For example, GameStop is an American chain of stores selling physical video games. In recent years, it has been in a difficult situation due to competition from the digital distribution of computer games and the economic impact of the COVID-19 pandemic, causing the number of buyers to decrease. As a result, GME’s share price fell, prompting many institutional investors to short the stock. At the same time, some investors suggested that GameStop shares were undervalued.
Everything changed in January 2021, when Reddit users initiated the historic short squeeze on GME shares on various stock exchanges. This led to serious financial losses for some of the big bearish players in the US stock market, particularly hedge funds.
A coordinated buying by small investors in just two weeks boosted GameStop’s share price from $20 to $500 per share! At the same time, the total market capitalization of cryptocurrencies increased in parallel.
Another super popular company is Virgin Galactic, chosen by space lovers, dreamers and fans of the charismatic founder Richard Branson (Virgin Airlines). His social media accounts inspire faith in a new project related to tourist suborbital space flights.
There was a time when speculators accelerated the price of these shares to $60 and then just calmly dropped it to $19. What awaits SPCE in the near future, and will it be able to compete with Elon Musk’s projects?
If you are looking to add biopharma stocks to your portfolio, not only are Pfizer stocks already available at FxPro but also the newly added Moderna. At the beginning of 2020, it cost $10 per share, and now it is over $200! What impressive movement awaits this market newcomer next? Stay tuned for news on vaccination contracts, and don’t forget technical analysis to help with responsible trading decisions.
Also on board at FxPro are stocks of super popular brands, including Salesforce, Coinbase, AirBnB, Zoom, Uber and even Nokia: by the way, Reddit users also tried to arrange a short squeeze on Nokia, but it didn’t work out very well for them: the price increased by only $3, leaving hurried investors stuck in their long positions for a long time.
A total of 38 new companies have been added to the list of assets on FxPro platforms in total. Trading conditions are one of the most attractive on the market, and the speed of order execution is impressive. You can open trades with this global broker not only on desktop platforms but also from mobile apps.
Since FxPro offers CFD trading, you are able to trade long or short, speculating on the rise or fall in prices. Click here to see a complete list of newly added Stock CFDs you can now trade with FxPro!
New cryptocurrencies: things are getting more interesting!
13 brand new coins have been added to the list of CFDs in addition to Bitcoin, BitcoinCash, Litecoin, Ethereum and Ripple:
BAT – a token created based on the Ethereum blockchain;
Dogecoin – Based on Litecoin and named after the Internet meme Doge;
Polkadot – managed to break into the top ten of the Coinmarketcap rating, overtaking whales such as EOS, Litecoin and Tron;
IOTA is a new generation cryptocurrency based on Tangle technology; designed for secure and efficient transfer of data and payments without commissions between devices on the Internet of Things;
ZCash is the world’s first open-source, blockchain-based confidential cryptocurrency;
BitcoinGold is a BTC hard fork that was completed in October 2017 in order to create an ASIC-resistant Bitcoin. Bitcoin Gold debuted at # 5 on the Coinmarketcap list.
Chainlink is a decentralized network of nodes that provide data and information from sources outside the blockchain to smart contracts inside the blockchain using oracles.
DASH is an open, decentralized payment system in the form of a blockchain-based cryptocurrency that uses a mechanism to increase the privacy of transactions.
Eosio is a smart contract platform designed to provide almost unlimited scalability and high transaction output for both ordinary users and developers of decentralized applications.
Ethereum Classic is a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine, which can execute programs on public network nodes.
NEO is a non-profit project that includes the blockchain and the cryptocurrency of the same name, the goal of which is to create a “smart economy”.
Stellar is a reimagining of the Ripple platform by XRP co-founder Jed McCaleb in 2014; it’s pretty popular in business circles.
Monero is the most famous cryptocurrency based on the CryptoNote protocol, focused on increased transaction privacy.
Ready to start trading? Then head over to the FxPro promo page for a complete list of all available assets.
Please note that cryptocurrency trading is not available for retail clients registered under FxPro UK Ltd (UK).
Trade responsibly. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This news is republished from another source. You can check the original article here