Thisย post will address the analysis of theย pastย few stock market performance of Gamestop, Coinbaseย Cryptoย exchange and Tesla,ย Inc. shares.
Analysis of the Gamestop, Coinbaseย Cryptoย exchange and Tesla,ย Inc. stocks
Afterย theย 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 appearsย 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 Coinbaseย Cryptoย exchange and Tesla
Followingย the boom in January 2021, Gamestopโs stock price tendency on the market has only been characterized by a long decline.ย
Inย reality, everyย time it hasย beenย growing onceย more after a descent it has made lower peaks than previous bottomย 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 isย 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 appearsย 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 appearsย to have stopped, and the lateralization hasย evolved relatively stable. It is worth keepingย inย mindย that the lowest post-bubble peak was reached in January below $16, and it has not since fallen below those levels.
The performance of Coinbaseย Cryptoย exchange stock
For the Coinbaseย Cryptoย exchange stock things are going differently, because the lateralization has now lasted for greaterย than a year.
With the implosion of the Terra/Luna ecologicalย system in May 2022, the COIN share price dropped to $40, and everย since a very long lateralization has begun that isย still ongoing, and has seen it fluctuate in a range betwixt $32 and $85, with very short hikes above.ย
It is worth keepingย inย mindย 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.ย
Coinbaseย Cryptoย 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 cryptocurrencyย market surpassed it.
Compared to the December low, theย present price is 76 percent higher, which is an identical percentage to Bitcoinโs +76 percent from the November lows.ย
Inย particular, since the beginning of the 30ย days it has been +28%, which is significantly higher than, forย instance, BTCโs performance, probably because it has recovered all that it hadย shed in theย recent months owingย to complications with the SEC.
Inย reality, as of 18 April it hadย shed 32%, and that loss has not isย still been recovered.
So while Coinbaseโs stock price tendency comesย after the tendency of the cryptocurrency markets, sometimes it behaves slightly differently owingย to complications specific to the exchange and not generic to the cryptocurrency markets.
Inย theย end, it is worth keepingย inย mindย that theย 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,ย Inc. stock
A different matter, on the other hand, is the tendency of Teslaโs stock price.
TSLA stock is likewise going through a phase of lateralization, but that only began in February.
Inย reality, its performance had previously been characterized by sustained volatility, with large rises and large falls.
Curiously, the record-breakingย peak was set in November 2021, when the cryptocurrencyย market did asย well but Coinbaseย Cryptoย exchange did not.
In that case asย well, it was a speculative bubble that thereafter burst, but the bear-market lasted until early this year.
Inย reality, the downward parabola did not stop until 9 January, although by July aย yearย ago it seemed to be recovering. Instead, betwixt September and December it sank lower and lower, soonerย orย thereafter hitting $101.8.
It is worth keepingย inย mindย that the highest peak was at $414, and by August 2022 it had risen back to $314. So the majorityย of the decline was there in the last months of 2022, with the recovery coming only in 2023 after the rebound of Bitcoin.
Everย since, after recovering over $160 in late January, it began its lateralization phase, which isย still ongoing, and which sees the price fluctuating duringย a range betwixt $160 and $210, with brief fluctuations just over or just below.
Nonetheless, it is interesting to note that it hasย risen continuously since 17 May, with a 12 percent boost that essentially canย potentially have ended yesterday.
Then onceย more, theย present level is exactly the same as it was on 18 April, before the last descent began.
