$Canaan Inc.(CAN)$is a Chinese company that makes and sells microprocessing solutions for crypto mining. As Beijing crackdowns on crypto operations in the country, the firm has expanded in markets overseas, reporting a 538% year-on-year growth in revenue over the first three months of 2021 despite government pressures. The company is ranked twelfth on our list of 12 best cryptocurrency stocks to invest in 2021.On June 16, Canaan Inc. (NASDAQ: CAN) announced that it had signed a deal with crypto mining firm Genesis Digital Assets to supply 10,000 mining machines by the end of the month. The company’s shares have offered investors returns exceeding 392% over the course of the past twelve months.At the end of the first quarter of 2021, 9 hedge funds in t
$Corsair Gaming, Inc.(CRSR)$The esports market has the potential to take off in the coming years as more people tune in to watch competitive video game tournaments, leading to a sharp rise in sponsorship and advertisement revenue. According to a third-party estimate, global esports revenue could exceed $1.6 billion in 2024 compared to $947 million last year. What's more, the number of people watching esports is expected to reach 577 million by 2024.The prize money offered by esports tournaments has been rising rapidly as well, leading to increased participation. The total prize money of esports tournaments in 2018 was nearly $165 million, and the number of active gamers stood at 23,000. Winnings increased 42% in 2019 to $236 million, while participat
$Marathon Digital Holdings Inc(MARA)$For its part, bitcoin has been viewed as an asset that isn't correlated with many others. The crypto asset certainly has a low correlation with stocks, as represented by the S&P 500 index and a pretty low correlation with technology stocks, as represented by the large-capitalization oriented Nasdaq-100 index .Bitcoins correlation with the Nasdaq-100, as measured in late May, was around 0.20 on a rolling 20-day average, and its correlation with the S&P 500 is 0.29, as of June 2, according to Dow Jones MarketWatch data.The asset with the highest correlation to bitcoin, presently, is the Grayscale Bitcoin Trust (GBTC), at 0.81, meaning that the trust moves nearly in lockstep with the crypto.That is even as co
$Palantir Technologies Inc.(PLTR)$PLTR is a great company and is very likely to remain a mission-critical component of US government technical infrastructure for the foreseeable future. That alone gives the business significant stability concerning its future and will likely lead to strong growth.However, stock-based compensation and lingering uncertainty about the long-term competitive strength of its Foundry platform are the main overhangs weighing on the stock right now. While the former overhang is a major key to positively resolving the latter uncertainty, only time will tell.Based on the assumptions of 25%+ annualized revenue growth through 2030, 40% adjusted operating margins in 2030, and $2 billion in 2030 stock-based compensation, expec
$Canaan Inc.(CAN)$Crypto stocks tumbled again on China's crackdown on bitcoin mining and trading.In a statement from Chinese Vice Premier Liu He and the State Council, authorities said tighter regulation is needed to protect the financial system.The statement, released late Friday in China time, said it is necessary to "crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field."
$Nano Dimension(NNDM)$Nano Dimension is a company in the 3D printing market. Its current product is the DragonFly LDM, a 3D printer that focuses on printing electronic circuitry.For the first quarter of 2021, Nano Dimension reported roughly $1.395 billion in cash and cash equivalents and bank deposits. The company currently has a market capitalization value of $1.6 billion. However, it is essential to note that this company is still in its early stages and needs a strong balance sheet.Currently, Nano Dimensions does not have meaningful revenue, as it is in the early stages of product development. Still, its management team has shared its current plans. The three points of focus are sales, product development, and mergers and acquisitions.
$NIO Inc.(NIO)$The individual cost of Nio’s second-generation battery swap station is reportedly RMB 1.5 million ($236,850), half the cost of the company’s first-generation product. Nio’s battery swap station construction costs will be significantly reduced if it can take advantage of the Chongqing city subsidyNio built its first second-generation battery swap station in the city on May 9.It is relying on service offerings to make an impact on customers in China. The company has pioneered the concept of battery-as-a-service that would allow users to rent a battery instead of purchasing one, helping to trim the cost for EV owners.At the NIO Day event in January this year, Nio unveiled its second-generation battery swap station, which can accommodate 13
$Tiger Brokers(TIGR)$Chinese-run stock trading apps are riding a surge of global interest in day trading, as competition grows for Robinhood.Futu and Tiger Brokers, both listed in the U.S., launched a few years ago as apps allowing Chinese users to trade U.S. or Hong Kong stocks. Now both are forecasting hundreds of thousands of new users this year — mostly from outside China.From the GameStop stock trading frenzy earlier this year to digital currency exchange Coinbase’s listing Wednesday, individuals are increasingly interested in playing capital markets, which are now easily accessible through a variety of mobile apps.
$ProShares Ultra VIX Short Term Futures(UVXY)$The VIX $Cboe Volatility Index(VIX)$probably isn’t saying very much about fear anymore.One of the big mysteries in markets this year has been the persistently high level of the Cboe’s Volatily Index, better known as the VIX.Even as the S&P 500 touched all-time highs early this year, the VIX remained stubbornly elevated. For something that’s often been described as ‘Wall Street’s Fear Gauge,’ the index didn’t seem to be doing a very good job of matching actual sentiment in the market. So what gives?Goldman Sachs analysts are pointing to the recent explosion in retail trading of options. Aided by zero-fee brokers like Robinhood, retail investors have jumped he
$GameStop(GME)$Participation by retail traders swelled to 24 per cent of all US stock market action during the first quarter. Stocks the group favoured soared, including a 1,600 per cent rally in January by GameStop. But those bets turned sour in the second quarter, with some of the Reddit targets falling more than 50 per cent.At the same time, demand for cryptocurrencies surged, sending some alternatives to bitcoin into eye-popping rallies reminiscent of the meme-stock frenzy. That buying has started to show signs of cooling, with Tesla's Elon Musk denting the price of bitcoin with back-and-forth utterances on the electric-car maker's plans for the token.
$Marathon Digital Holdings Inc(MARA)$It seems the recent $Coinbase Global, Inc.(COIN)$ stock listing took away some of the interest. COIN stock absorbed a lot of capital from the crypto stock space, leading to a short-term decline in other crypto names like Marathon. And now Coinbase stock itself has turned downward, causing sentiment to further sour. So will MARA stock get back on track?Marathon in theory has a tremendous profit opportunity.According to a recent investor presentation, Marathon will be a financial powerhouse in coming years.Based on current projections, Marathon assumes the following once its mining rigs are all deployed. It believes its 103,120 miners will produce 10.37 ExaHashes (EH
$NIO Inc.(NIO)$reported first-quarter 2021 loss of 4 cents (ADR), narrowing from the year-ago loss of 22 cents owing to higher revenues. The China-based electric vehicle maker posted revenues of $1,218.3 million, up a whopping 481.8% year over year. Robust deliveries in first-quarter 2021 led to higher-than-expected revenues.NIO — which shares space with other China-based EV firms including XPeng XPEV and Li Auto LI — delivered 20,060 vehicles in the first quarter of 2021, including 4,516 ES8s, 8,088 ES6s and 7,456 EC6s. Total deliveries skyrocketed 422.7% year over year.Revenues generated from vehicle sales amounted to $1,130.3 million, representing a 489.8% jump from the corresponding quarter of 2020. Other sales amounted to $88 million, 395.3% high
$Palantir Technologies Inc.(PLTR)$With just over 100 customers and practically no earnings to speak for, shares of Palantir Technologies surged more than 250% in just 3 months out of the IPO gate. The erratic stock price movement fits the build of a textbook bubble stock. On one hand, Palantir is blessed by the large revenue contribution from steady multiyear government contracts which serve as a pipeline for long-term low-risk income. On the other hand, Palantir’s growth is limited by the absence of a commercial Cloud ecosystem which is the key for future share appreciation. At this early stage, as the growth opportunity is more important to investors than the company’s profitability, PLTR may be fairly valued between $28-$33.
$ProShares Ultra VIX Short Term Futures(UVXY)$Wall Street is firing on all cylinders with the new bull market gains momentum. U.S. stock markets completed an impressive first-quarter 2021 after witnessing an astonishing rally in the pandemic-ridden 2020. The rally has gathered pace in April. Meanwhile, CBOE VIX — popularly known as the best fear-gauge of Wall Street — has plunged 25.9% year to date. In fact, the volatility index has dropped 12.8% so far in April.On Apr 8, the CBOE VIX touched its 52-week low of 16.20. On Apr 12, the index closed at 16.91, its lowest level since Feb 20, 2020. Notably, the CBOE VIX is derived from the prices of S&P 500 options (both call and put) and represents the market’s expectations of volatility over the comin