The Bitcoin rally is on! Bitcoin weekly trading volume just surpassed that of all tech stocks combined with over 13 billion in inflows (that's a crazy amount of money). The only pure way to play this outside of actually owning the currency is the Grayscale Bitcoin Trust, #GBTC, which we own in Index PRO and it currently has a 43% return on the year.
Cannabis stocks are getting a big bid higher today on optimism around legalization and earnings numbers from Sundial Growers. #SNDL is one of our Mashups holdings and is up 31% today. How could it not go higher... :/ with products like Lemon Riot, Daydream, Zen Berry, Twilight, Tropical Bliss, Pillow Talk, Citrus Punch, and others.
Covid cases are down again with the 7-day average at a 3-month low. This is good for the reopening trade (and good for everyone generally) as the economy gets back on track. The hope is that lockdowns are a thing of the past.
One of the Fed presidents said today he doesn't see systemic risks in financial markets and that GDP growth in 2021 and 2022 will be strong. That's a good sign because the people over at the Fed have access to data that nobody else sees until their next meeting.
Markets will always be on a forever rollercoaster but for now the ride is pretty steady, especially with some of that #tropicalbliss.