The First Day of March and We Had a Huge Rally!

The First Day of March and We Had a Huge Rally!

Well, it was a great day on the stock market, with the Dow ending at +603.14 and the NASDAQ ending at +396.48.

It seemed that the stock market was rebounding today since the past 2 weeks have been pretty dreadful, as if we’ve experienced a bit of a correction.

One of the Western Sage Equity Fund’s stocks, Zoom (ZM) had a great earnings report, with sales surging to 369% in the fourth quarter. So, even though there might be signs of the global pandemic tapering off and more people getting the Covid Vaccine, people will still be using Zoom for awhile yet… perhaps even throughout 2021 until this pandemic is 100% erradicated.

Electric Vehicles vs OPEC

Tesla (TSLA) has been floundering the past several weeks, thanks to Elon Musk and his irresponsible tweets dissing Bitcoin and his own stock’s performance. I think that CEOs have a big responsibility to be careful of what they say on social media. Even implying negative stuff could be detrimental to the company and a stock’s performance. Even the SEC is looking at investigating him. This is a serious matter especially when it comes to a CEO trying to manipulate a stock’s price. Is he trying to short his own company stock? One wonders…

Russia is trying to gain control of OPEC, this is apparent, but the growing popularity of EVs and Hybrids is making oil less essential. It’s just a matter of time before EVs totally take over. Maybe in a decade or two, things will have changed dramatically, we will have more solar and wind power.

And climate change is becoming more of a factor, especially when States like Texas have an obsolete power grid of its own that failed during that Winter Storm Crisis. The times they are a changin’ and we all need to step up and adapt to climate change.

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randomguru

Portfolio Manager & Musician

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