A recent spate of stock drops, exacerbated by signs of a second wave of the coronavirus pandemic, is unsettling to say the least. The market selloff of last spring was brief, but brutal.
“So we have a second wave coming, we have very wealthy people taking profits [on stocks] and we see a lot of speculation in the market. I think the market is going to start to go down again,” Lamoureux told MarketWatch recently. This selloff phase will start slow and extend into 2021, he added. Another big bounce will follow that, with a final drop to come perhaps near 2023.
Last month, automotive technology company Luminar, which works with Volvo VOLV.B, -1.35% and other top auto makers, agreed to go public through a merger with GMHI. That taps into a theme he likes — self-driving cars and trucks. And the ultimate deflation asset is bitcoin, he said. He added that companies are also waking up to cryptocurrency importance, such as business intelligence firm MicroStrategy MSTR, -0.57%, which recently announced it will use bitcoin as a primary treasury reserve asset instead of Treasury bills or cash.
“I think the big tech names are going to be doing like the big tech names of 2000, and they’re going to go down for years to come,” he said. Shares of professional services and consulting group Accenture ACNB, -0.46% are dropping on disappointing results.
Hahahaha
This you vicrek ?
Nut job pushing bitcoin, spacs, deflation, falling RE prices. Wrong, wrong, wrong, and wrong.
Trump will dump another trillion on bonds & stocks, 7 of 10 losing money
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