One Rich Human...
Thanks to the performance of Amazon's stock (hitting a market cap of $900 billion this week) Jeff Bezos has catapulted to the top of the billionaire list with a net worth of $150B. This makes him the richest human in modern history and the only person on the list with a net worth over $100B.
It's not a surprise that Bezos tops the list as Amazon continues to dominate online sales leaving its competition fighting for scraps...
A Cannabis First...
Tilray Inc., a Canadian supplier of marijuana products to pharmaceutical distributors becomes the first cannabis company to complete an initial public offering on a major US stock exchange.
While the majority of publicly traded cannabis companies had a pretty dismal week, Tilray (TLRY) traded in a league of its own closing at $29.77 almost 50% higher than its lowest price traded on Thursday
Is Bitcoin Back?
Bitcoin woke up giving the cryptocurrency fans something to cheer about with a solid 25% gain on the week. The bulls are hoping the bottom is in but follow through will be key as the downtrend on the daily chart is still intact.
The 8,000 area is the next level to watch as a break above would give more fuel for the bullish case and increase the probability that a bottom has been made.
Below are five of the stronger trending stocks on my CM50 & UM50 lists. Canadian technology company Shopify Inc. is within striking distance of all time highs and Kelt Exploration Ltd. in the oil & gas space is now trading at prices not seen since 2015.
In the US big tech continues to dominate the list as the all time highs keep coming from the household names.
Remember that chasing stocks higher is not recommended and even the strongest trending stocks can experience significant drawdowns.
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