The price of Bitcoin more than doubled at one point during 2021:
FactSet
On the other hand, the ProShares Bitcoin Strategy ETF was worst performing exchange traded fund projected by ETF wrap for a week until November 18, while the virtual currency plunged 13%.
As you can see from the chart, even during (another) jaw-dropping year for bitcoin, this kind of pullback is typical and even mild.
Cathie Wood, CEO of Ark Investment Management is undaunted by a bitcoin crash - she expects the cryptocurrency to rise to $ 500,000 five years from now. It closed at $ 56,790 on November 18.
More by Cathie Wood
Wood told Barron's (MarketWatch's sister publication) that she is negative about Ford Motor Co. and General Motors Co., even though traditional automakers are hell-bent on making a full transition to electric vehicles, because "they don't have the DNA for this happy new world. "
Keep reading: 'As long as we don't go into a recession, "we're in a long bull market," says Cathie Wood of ARK Invest.
A broken bitcoin IPO
Investors jumping into an IPO hope (or hope) to make an instant kill, especially if the company selling stocks is tied to a transformative trend. But after Australian bitcoin miner Iris Energy Ltd. priced its shares at $ 28, the shares fell 13% during their first trading day on November 17 to $ 23.40. Tomi Kilgore explains the numbers that could have fueled the Wall Street backlash.
More coverage of bitcoins and cryptocurrencies
Terrence Horan, Dow Jones
Frances Yue writes the Distributed ledger column. This week she explains why the pushback in virtual currencies is tied to infrastructure legislation signed by President Joe Biden.
Bitcoin and related coverage:
- 'One of the stupidest ideas I've heard in a long time,' Robinhood CLO criticizes crypto regulator Coinbase's proposal
- Do you want to jump into investing in cryptocurrencies? Ask yourself these 3 questions first
Cybersecurity actions
Corporate cybersecurity spending is expected to grow at twice the rate of total IT spending. Jeff Reeves's Lists six actions to play this critically important trend.
Plus: 4 stock picks for the post-pandemic 'nesting' economy from a five-star money manager
The true story about the truck driver 'shortage'
fake images
One reason for the supply shortage that affects so many industries is that trucking companies have a hard time hiring enough drivers. A group of members of Congress want to tackle this problem spend money to train more drivers. But there are many qualified drivers who have left the industry. Victor Reklaitis shares numbers that point to the real problem underlying the truck driver shortage.
Stock selection: These companies should benefit from efforts to improve the environment.
In the wake of the COP26 environmental conference in Scotland, Michael Brush talks to money managers who recommend Semiconductor Stocks Linked to Energy Efficiency and Water Conservation.
More from Michael Brush: This fund company was one of the first to believe in Tesla; now he is making these bets
A medical scandal
Travis Paulson from Eveleth, Minnesota, looks at the insulin medications in his refrigerator.
Agence France-Presse / Getty Images
When you buy a medicine prescribed by a doctor, the costs of the manufacturer, distributor and retailer are included. But it might surprise and outrage you to see how much of the cost of insulin goes to intermediaries.
For you or your loved ones during the holidays: books about money
We all make mistakes with money - they are the result of the way our brains are wired. But successful money managers employ strategies to help them take advantage of groupthink, while limiting the downsides. Howard Gold Stock Five books that can help you change the way you think about money and investing.
Thanksgiving is coming, you better watch out
Photo illustration MarketWatch / iStockphoto
Kristine Nolin explains the special danger of mixing a frozen turkey with hot oil.
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