As the title suggests, here are my thoughts/frustration on a couple of stocks that have recently hit a new all-time-high. Without further ado, let’s get right into it.
TESLA // $TSLA
Yep. Who would’ve thought Tesla could be able to hit past $1000? Back in February, Tesla almost had a chance to break the $1000 mark but it failed and it dropped almost more than 50% of its value due to the early COVID-19 panic. 3 months later, and in June 10, 2020, Tesla finally broke $1000, closing the day at $1025 per share. That was a crazy moment to see. Tesla finally breaking $1000. Does it still have potential to go even higher in this questionable and suspicious market? You’re damn right. June 30, 2020 marks a brand new all-time-high for Tesla, finishing off the day and the month of June at a whopping $1079, beating their new all time high within 2 weeks.
At this point I’m not even sure how and why Tesla is just soaring every other day. At this rate, it seems that it’s about to break $2000 by end of year. There is literally nothing crazy happening for Tesla. Despite recent rumors/leaks about Tesla entering the S&P 500, there is literally no reason why Tesla deserves to soar every other day. Not convinced yet?
APPLE // $AAPL
Let’s take a look into Apple. Apple, like Tesla, has hit an all-time high back in June 23, 2020, ending the day at $372 a share. Like Tesla, Apple has no reason at all to hit a new ATH. They had their WWDC 2020 event just last week and it was just a reveal of the new iOS 14 software. Nothing special about it. We’re basically getting features that Samsung implemented almost 10 years ago. But its acceptable and cool since its on an Apple product right? Jokes aside, this event helped Apple break a new resistance and hit $370. Crazy right? The following day Apple announced that they had permanently closed 32 stores. With no plans of reopening the store and profits loss from shutting the store, stocks can only go up from here at this point right?
This post isn’t merely a rant or something. I’m just growing more and more concern about our market. Even with bad news and with COVID-19 still killing/scaring millions of people in the world, stocks can only go up from here I guess. I don’t really see this market manipulation pump going on for a long time. At most maybe a couple of months. When there’s a dip, I believe it’s going to be a bad one. Once the bubble is popped, the market will definitely crash.