Robin Hood Enters the Meme Stock – Closing Bull Aug. 6th, 2021

Quick Summary:

In this week’s Closing Bull, we launched the my million challenge, the employment rate has gone up, by 2030 half of the cars being sold will be electric, and the company Robin Hood takes its first steps in entering the meme stock.

Let’s settle in and get to it!

Key News This Week:

Market recap

My million challenge

The employment rate has gone up

Electric cars to make up half of the auto sales by 2030

Company Robin Hood enters the meme stock

Read the Transcript

Hi, welcome to my financial markets recap for the week, it’s John Bannan here from Comhlatech.com.

So what happened this week? Well, before we get to the news and what happened in the markets, and from the news sources, just a quick update on the system itself. Really nice week, this week, we were holding along from last Friday, just closed it, you know, half an hour ago. Nice, nice trade took out, probably just about everything they probably could in this particular trend. Obviously, it could go a little higher next week. But certainly, for this week, we took out as much as we possibly could. So that was really great. So congratulations to everyone that was involved in that particular forecast that one worked out, really, really well. And we are just shy of our new equity peak for the year. But we’re obviously pretty well over half a percent away from it. So next trade hopefully throws us over the top, which will be next week. So more details on that next week.

Following up on that, we launched the my million challenge this week, we have a bunch of people that have already started with it. This is a really exciting opportunity for new members to follow what we’ve been doing for our son, our 16-year-old son who we started with $1,000 with the idea of pushing it to a million dollars. So that’s sort of a really exciting thing that we’re doing for our son, and other people are welcome to join us on that journey. You can find out more details on our ComhlaTech Facebook page. Or you can leave a comment on this video and we’ll certainly get back to you and give you more details on what that’s all about. But you know, we’re really excited about this and happy to share the information with people. So if you want more information, go to our Facebook page, that’s probably the easiest place to find more info on it.

So that was the trading news and the system update for the week. What happened in the news? what was going on in the markets? Well, the big news really was this week, we saw today that the News for the week was the jobs report, for the month of July. It was 943,000 jobs added when they were only expecting 845,000. So major step up on what they were expecting. And the other surprise was the employment rate went from what they expected at 5.7 to 5.4. So clearly an uptick in what’s happening in the economy and what they expected. So good news for the markets, right? and the S&P closed an all-time high today, you know, pull back a little bit towards the close, but it certainly was pretty swell up there. So we’ll see what happens next week. But the market obviously cheered at NASDAQ pulled back a little bit, but the S&P obviously was all-time highs.

In other news this week, the American roads are going to get a lot quieter in a few short years. Because you know, half of the cars will be sold by 2030, half of the cars will be electric, or your hybrid or hydrogen-powered, you know, I don’t know how many hydrogen cars are out there but certainly, that’s one of the avenues that some automakers are going down. So it was an executive order that was announced by President Biden. Now the automakers are already on board with this, so they have already endorsed this plan. So it was a nonbinding executive order. But they were going to do this anyway because that’s what the public is demanding. So by 2030, half of the cars being sold will be electric cars. Right now electric cars make up you know, that electric hybrid, you know, that sort of mix, fuel-efficient vehicles are about 2% of the US sales. So they got a long way to go, obviously, and when you think it’s 2021 I mean, just a few short years to 2030. So that’s a big change for the auto industry, obviously and we’ll see how that pans out. But you know, China is like 6% already, Europe is 10% already, North America is back in the 8 ball on this stuff. And I’m sure they’ve got some catching up to do basically so I’m sure they’ll be pushing hard for that, you know, both automakers as well as the government itself.

The last piece of news I’ve got for you today was a new meme stock was born this week, Robin Hood took its first steps after IPO and went absolutely crazy. So the trading app that was synonymous with the meme stock push above of EMC, and you know, a couple of others that were going crazy. Gamestop you know, earlier this year, and that still has been going on with some of them, but certainly seem to have calmed down a little bit recently. But Robin Hood is the new meme stock now so who would have thought it would become the meme stock. And that was evident in terms of its buying what was going on buying and selling this week. At one point it was over 100% in its first week of IPO, which was pretty crazy. But it seems to have calmed down a little bit, it has pulled back from its 100% gain, but in the coming weeks, I’m sure we’ll see some more of this because the same folks that are involved in the Gamestop and the EMC stuff will be all over that one I’m sure. So we’ll see what happens there.

So those were the main things to pull out of the market this week. That is what happened. It was a very bullish week and I’m hoping so for more of that next week, but not right at the beginning of the week, but later in the week, certainly, based on the forecast.

So that’s it for me. It’s the weekend. It’s time to down tools. Have a great weekend everyone and thanks for watching. Take care and bye for now.