Amazon, SpaceX & Tesla
Stocks slumped across the globe Monday to kick off the new trading week.
Today however, futures were set to open in the green.
Make no mistake: The major averages have fought off the winter blues to post a strong start to 2019.
Can the market continue to rip higher while negative headlines and a pesky government shutdown attempt to derail the rally? We’ll know soon enough.
But, in this week’s tech news we did confirm…
Trump Really Doesn’t Like Jeff Bezos
I just stumbled onto an article on Yahoo Finance highlighting some of the “unexpected victims” of the Trump shutdown.
Hazmat truckers, importers and international travelers are just some of the people losing time and money as the shutdown continues, the report notes.
Strangely enough, it doesn’t mention Amazon CEO Jeff Bezos. But thanks to all the free time afforded to Trump during the shutdown, he found a few spare seconds to roast Bezos on Twitter the other night:
Trump’s tweet references a National Enquirer story blaming Bezos’ impending divorce on an alleged affair with Lauren Sanchez, the wife of a prominent Hollywood talent agent.
Tabloid gossip aside, Trump has had it out for Jeff “Bozo” for a while now. He hates The Washington Post. Last year he even claimed his administration was investigating antitrust violations by Amazon.
I doubt Amazon shareholders are worried about this war of words. After all, Amazon stock has gained more than 20% since Dec. 24.
And in other headline tech news SpaceX, Elon Musk’s aerospace giant, is cutting its workforce by 10% to prep for the development of two major projects.
SpaceX Trims the “Fat”
Elon Musk apparently needs to scrape together every penny in the SpaceX piggy bank to get his Starship and Super Heavy projects off the ground.
In a statement picked up by the Los Angeles Times, Musk says SpaceX “must become a leaner company… due to the extraordinarily difficult challenges ahead.”
While SpaceX battles Boeing for lucrative NASA contracts, another of Elon’s passion projects is taking off.
Tesla Inc. (NASDAQ: TSLA) stock continues to look constructive.
Musk stirred up more than his fair share of controversy last year. But Tesla (and Musk) survived, and the Model 3 became the best-selling luxury car of 2018.
Tesla shares have risen almost $100 from their October lows.
Back in December, Tesla had suddenly become the best-performing car company on the market on the year (General Motors and Ford were both down double digits).
We’ll soon see if Tesla can maintain its momentum and make a run at its highs.
For Technology Profits Daily,
Chief Trading Expert