What to watch
Carmax: Over the past three months, Carmax has delivered an astonishing recovery. Its share price is up 11.7% year-to-date but has gained more than 100% in the past three months alone to dig itself out of a deep hole. The firm, which provides an online marketplace for buying and selling used and new cars, reports its latest set of quarterly earnings on Friday. Currently there is no one single dominant player in the US used car business, and the company has been working through a major makeover to position itself to fill that void. Currently, 13 analysts rate the stock as a buy, one as an overweight, and one as a hold.
Quadruple witching: This is not normally an event to watch, but it’s worth being aware of, given the huge volatility and price dislocations that have been witnessed in markets in recent months. The term refers to the expiration, simultaneously, of stock options and futures contracts. “Expirations tend to be volatile by their nature, and I would suspect this go around will likely be no exception,” one industry expert told MarketWatch.
Crypto corner: Bitcoin “not a top ten” cryptoasset says China
Bitcoin is not the top cryptoasset, according to a new Chinese report that ranked global cryptoassets based on their technical merits.
According to a report from China’s Centre for Information and Industry Development (CCID) Bitcoin, the world’s oldest and largest crypto asset by market cap, ranked 12th.
The rankings have been published in the 18th edition of the CCID Global Public Chain Technology Evaluation Index. The index judges cryptos based on their blockchain’s basic tech, applicability and creativity. Basic tech evaluates the function, performance, and security of the blockchain; applicability evaluates if these blockchains support actual applications; creativity or innovation refers to developer scale, code update, and code influence.
Bitcoin was up just two places from the previous evaluation. According to a report in the International Business Times, which cited CoinTelegraph, the top five tokens remained the same from the previous evaluation — EOS, Tron, Ethereum, IOST and Link.
All data, figures & charts are valid as of 19/06/2020. All trading carries risk. Only risk capital you can afford to lose.
This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.
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