Michael Harris

Gold prices are closed the week 1.1% lower after plunging nearly 2.6% the week earlier. A new stimulus plan unveiled by President-elect Joe Biden may provide a boost to gold investors.   Fundamental analysis: All eyes on stimulus President-elect unveiled his much-anticipated $1.9 trillion stimulus plan two days ago. The…

S&P 500 price closed the week nearly 1.5% lower to record the biggest weekly pullback since October. On the other hand, Goldman Sachs warns that stocks and bond markets could see a short-term pullback, after hitting record highs a week earlier.  Fundamental analysis: Extreme valuation The stock market in the…

UTrust (UTK) price is trading around 65% higher this month to continue its bullish run after gaining about 20% in the last two months of 2020. Fundamental analysis: Egyptian government picks UTrust among others to lead projects under the digital migration program The Egyptian government has picked 16…

Shares of Visa (NYSE: V) are trading over 6% lower this week after the payment-processing company said it is giving up on plans to acquire financial services company Plaid amid regulatory hurdles.  Fundamental analysis: Visa loses patience  Beginning of the last year, Visa announced it is acquiring Plaid for…

Shares of Xiaomi (HKG: 1810) plunged on Friday after the Department of Defense (DoD) added the smartphone maker to the list of companies that are allegedly connected to the Chinese military.  Fundamental analysis: US investors forced to delist Xiaomi, the world’s third-biggest smartphone maker in the third quarter of…

Persistent price volatility in Bitcoin (BTC) price action and other similar cryptocurrencies indicates a potential need for stablecoins and other less volatile digital currencies.  Fundamental analysis: Altcoins may prosper Bitcoin has been on a frenzy over the past year, however, its high volatility and the need for less volatile cryptocurrencies…

Shares of Tesla (NASDAQ: TSLA) are trading 1.2% lower today after the National Highway Traffic Safety Administration (NHTSA) issued a letter asking Tesla to recall around 158,000 vehicles due to safety concerns. Fundamental analysis: Safety issued determined After an investigation that took months to complete, the regulator determined that…

Shares of Telefonica S.A. (BME: TEF) soared nearly 10% on Wednesday to hit a near six-month high. Fundamental analysis: Major deal announced The telecommunications company announced it has sold its cell towers in Europe and Latin America to American Towers for 7.7 billion euros ($9.41 billion) in cash.

Curve (CRV) price is trading over 15% lower this week as Bitcoin leads a sharp correction in the cryptocurrency market.  Fundamental analysis: Cooperation with Yearn Yearn.finance (YFI) announced it is collaborating with the DeFi protocol Curve on an unannounced project. Both Yearn and Curve started operating about a…

Litecoin (LTC) price recorded one of the biggest daily losses yesterday when it closed over 18% in the red.  Fundamental analysis: Flare Networks will airdrop FLR tokens to Litecoin owners Flare Networks said it plans to airdrop Spark (FLR) tokens to Litecoin owners ahead of the launch of…

Rumours about the stock market currently being in a bubble have emerged once again as many analysts want that extreme valuation are unsustainable.  Fundamental analysis: “Epic bubble” Stocks have hit record highs amid the persistent coronavirus pandemic, driven by the rollout of COVID-19 vaccines and monetary stimulus from global central…

Shares of F5 Networks (NASDAQ: FFIV) soared over 6% on Friday to exceed the $200.00 mark for the first time ever. The company announced the acquisition of Volterra startup for $500 million.  Fundamental analysis: Volterra to be integrated F5 Networks said it will pay $440 million in cash and…

Shares of Hyundai (KRX: 005380) soared 25% on the news that the South Korean automaker was in early discussions with Apple over an electric car and battery deal.  Fundamental analysis: Talks confirmed The news comes a few weeks after reports about Apple’s plan to expand into self-driving car technology…

Polkadot (DOT) price is currently engaged in the correction phase after gaining nearly 100% last week to trade at 5-month highs.  Fundamental analysis: Major design exercise announced Polkadot announced a major design shake-up on Wednesday, with key decisions being made and approved by its community and representatives. It hired…

Shares of LVMH (EPA: MC) soared 2.6% yesterday after the luxury fashion group said it completed the takeover of Tiffany’s for $15.8 billion. Fundamental analysis: Top executive to head Tiffany’s LVMH said it appointed two senior Louis Vuitton executives as new directors of Tiffany and revamped the jewellery company’s…

Stellar (XLM) price exploded over 80% yesterday to bring total weekly gains to about 200% after being selected by Ukraine to work on the central bank digital currency. Fundamental analysis: Major cooperation agreed The Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation signed a deal…

The total value of all cryptocurrencies has exceeded the $1 trillion threshold Wednesday, according to the TradingView data.  Fundamental analysis: Bitcoin leads the way  In less than a week, the market capitalization of the crypto market soared by over 35% to $1.048 trillion. Bitcoin’s (BTC) impressive bullish run is…

Shares of BYD (SHZ: 002594) soared more than 15% this week after the company reported strong numbers for sales of its luxury electric vehicles. Fundamental analysis: BYD beats rivals Sales of luxury electric vehicles in the Xi’an-based carmaker BYD are outshining those of other major Chinese start-ups, despite losing…

Elrond (ERD) price followed Bitcoin (BTC) price in racing higher to record a strong close of 2020 year.  Fundamental analysis: Token “substantially undervalued” A recent research focused on Elrond, conducted by crypto research firm Picolo Research, showed that the network’s future largely depends on the rollout of Maiar,…

Shares of Prada (HKG:1913) moved to the highest levels observed since 2015 as the company said it expects to return to being profitable despite plunging sales in the first half of the year. Fundamental analysis: Strong recovery in H2 Prada, an Italian luxury fashion house, announced yesterday it has…

Shares of Foxconn (T: 2354) are up over 4% this week after one of the key iPhone suppliers reached an agreement with the Chinese electric automaker Byton to take part in the manufacturing of its first vehicles. Fundamental analysis: EV market opportunity The deal comes as the Taiwan-based electronics…

The New York Stock Exchange (NYSE) dropped its plan to delist three Chinese telecom companies including China Telecom (NYSE: CHA), China Mobile (NYSE: CHL) and China Unicom (NYSE: CHU), just four days after it announced its decision.  Fundamental analysis: An unexpected change in the direction The world’s…

Shares of Tesla (NASDAQ: TSLA) soared 3.4% Monday after the company reported it delivered 499,500 cars to its customers in 2020. Wall Street analysts believe that investors will now place their focus on margins. Fundamental analysis: Strong demand recorded in December  Tesla, the world largest producer of electric cars,…

Bitcoin (BTC) price rose to new all-time highs on Sunday, before rotating lower on profit-taking. Buyers are now taking a step back before a continuation of the uptrend can take place.  Fundamental analysis: Strong institutional demand Henri Arslanian, a global crypto leader at PwC, believes that large institutional investors…

Chainlink (LINK) price recorded losses of over 21% in December but it has already managed to erase these losses in the first three days of trading in January.  Fundamental analysis: Utilization on Matic apps Chainlink published a new report on how its oracles can be utilized in Matic…