⚡ $TSLA rose 20.5% since the start of the year, pushing its market cap north of $800 billion. The surge has made founder and CEO Elon Musk the world’s richest person. As of this writing, he has cleared a net worth over $200 billion. The company is anticipated to make $31 billion this year, expectant upon double-digit growth in the years ahead. Despite its high valuation relative to earnings, many investors now believe it’s riskier not to invest in $TSLA than to invest in $TSLA. Drop a comment to tell us what you think.
🛒 We’ll be keeping our eyes peeled this week as Affirm and Poshmark kick off the 2021 IPO docket. The fintech company Affirm, which helps people finance a purchase on consumer goods, will trade as $AFRM. The digital marketplace Poshmark, which combines shopping and social, will trade as $POSH. Keep an eye on our Twitter and Public over the next few days as we cover some of the big upcoming IPOs this year.
🏦 SPACs are jumping on the cryptocurrency craze. VPC Impact announced its definitive agreement to merge with Bakkt, a company offering cryptocurrency futures, options, custody and wallet features. The company, which is owned in part by Intercontinental Exchange. $ICE also owns the New York Stock Exchange. $VIH, which is expected to be valued at over $2 billion after the deal closes, jumped 58% on news of the merger.