Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The popular FANG stocks, Facebook Inc (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), are off to a roaring start so far in 2017. The hot start is a far cry from how the stocks started 2016.
Already Besting 2016
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Just four trading days into 2017, Facebook, Amazon and Netflix shares are already up more than 6.3 percent each, with Google tacking on another 4.2 percent. Three weeks into 2016, all the FANG stocks were down 1.8–8.4 percent during the market pullback. By the end of the year, however, all four stocks had bounced back and the group finished 2016 with an average gain of 11.7 percent.
Facebook, Netflix and Amazon have yet to see a down day so far in 2017, delivering four consecutive days of gains. Netflix is now knocking on the door of a brand new all-time high above $133.27.
The FANG stocks, which are some of the largest companies in the entire Nasdaq Index, are largely responsible for the PowerShares QQQ Trust Series 1 (ETF) (NASDAQ: QQQ)’s 2.9 percent gain in the opening week of 2017 compared to only a 1.7 percent gain by the SPDR S&P 500 WTF Trust (NYSE: SPY).
The FANG group certainly has a lot of momentum headed into Q4 earnings season. Netflix is the first to report starting on January 18.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.