This post will address the analysis of the past few stock market performance of Gamestop, Coinbase Crypto exchange and Tesla, Inc. shares.
Analysis of the Gamestop, Coinbase Crypto exchange and Tesla, Inc. stocks
After the deep bear-market of 2022, 2023 had gotten off to a good start for numerous stocks.
Nonetheless, the rebound at the beginning of the year appears to have stopped, and by now numerous stocks have been lateralizing for some time.
Several have stopped sliding recently, and some have fallen so far in 2022 that they have hit bottom before the others.
The tendency of Gamestop stock: a comparison with the trends of Coinbase Crypto exchange and Tesla
Following the boom in January 2021, Gamestop’s stock price tendency on the market has only been characterized by a long decline.
In reality, every time it has been growing once more after a descent it has made lower peaks than previous bottom Line. It is thus a long phase of downward lateralization.
It all began in March 2021, when the speculative bubble that had inflated a couple of months earlier on GME stock burst.
The absolute peak was $120 in January 2021, while back in March the monthly high dropped to $87.
In June of that year, after a brief descent, it made a new monthly maximum peak, at only at $86.
Thereafter there have been as numerous as 7 rises after as numerous falls, and the sequence of monthly maximum peaks has been $64, $50, $48, $35, $25, until February this year.
Nonetheless, things changed precisely from March 2023, when after is still another ascent the monthly maximum peak went as high as $27, which is a level only slightly higher than the previous peak.
Additionally, a new ascent has been triggered since 3 May, after touching $18, which still appears to be ongoing, and for now has led to a current monthly high of $24.3 touched yesterday.
So if until February the bursting of the bubble was followed by a very long downward lateralization, in the last 3 months the descent appears to have stopped, and the lateralization has evolved relatively stable. It is worth keeping in mind that the lowest post-bubble peak was reached in January below $16, and it has not since fallen below those levels.
The performance of Coinbase Crypto exchange stock
For the Coinbase Crypto exchange stock things are going differently, because the lateralization has now lasted for greater than a year.
With the implosion of the Terra/Luna ecological system in May 2022, the COIN share price dropped to $40, and ever since a very long lateralization has begun that is still ongoing, and has seen it fluctuate in a range betwixt $32 and $85, with very short hikes above.
It is worth keeping in mind that it hit its lowest peak in December 2022, which is right around the same time as the 2022 low of the entire cryptocurrency market.
Coinbase Crypto exchange is a traditional Nasdaq-listed stock, but its fortunes follow the cryptocurrency markets very closely. It is surprising that in November 2021 it failed to replicate the April boom, while the cryptocurrency market surpassed it.
Compared to the December low, the present price is 76 percent higher, which is an identical percentage to Bitcoin‘s +76 percent from the November lows.
In particular, since the beginning of the 30 days it has been +28%, which is significantly higher than, for instance, BTC’s performance, probably because it has recovered all that it had shed in the recent months owing to complications with the SEC.
In reality, as of 18 April it had shed 32%, and that loss has not is still been recovered.
So while Coinbase’s stock price tendency comes after the tendency of the cryptocurrency markets, sometimes it behaves slightly differently owing to complications specific to the exchange and not generic to the cryptocurrency markets.
In the end, it is worth keeping in mind that the present price level is almost identical to that of the low peak in May 2022, so it has recovered all losses since then.
The performance of Tesla, Inc. stock
A different matter, on the other hand, is the tendency of Tesla’s stock price.
TSLA stock is likewise going through a phase of lateralization, but that only began in February.
In reality, its performance had previously been characterized by sustained volatility, with large rises and large falls.
Curiously, the record-breaking peak was set in November 2021, when the cryptocurrency market did as well but Coinbase Crypto exchange did not.
In that case as well, it was a speculative bubble that thereafter burst, but the bear-market lasted until early this year.
In reality, the downward parabola did not stop until 9 January, although by July a year ago it seemed to be recovering. Instead, betwixt September and December it sank lower and lower, sooner or thereafter hitting $101.8.
It is worth keeping in mind that the highest peak was at $414, and by August 2022 it had risen back to $314. So the majority of the decline was there in the last months of 2022, with the recovery coming only in 2023 after the rebound of Bitcoin.
Ever since, after recovering over $160 in late January, it began its lateralization phase, which is still ongoing, and which sees the price fluctuating during a range betwixt $160 and $210, with brief fluctuations just over or just below.
Nonetheless, it is interesting to note that it has risen continuously since 17 May, with a 12 percent boost that essentially can potentially have ended yesterday.
Then once more, the present level is exactly the same as it was on 18 April, before the last descent began.