$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.
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