|Robinhood trading arena concludes the first half of 2021. According to Robinhood, there were a number of leading themes that defined this half.|
Back to life. The US economy is roaring back to life and is expected to grow 6.5% this year- the highest rate since the ’80s. Robinhood attributes it to the US’ massive stockpile of Covid vaccines, and $5.3T worth of gov’t stimulus.
The rise of alt-coins. According to Robinhood: “This year, crypto mainstreamification is going far beyond Bitcoin. In January, BTC made up 70% of total crypto value — now, it makes up 45%. Alt-coins like Ethereum and Doge have picked up crypto market share, dimming BTC’s spotlight. Smaller coins like DigiByte, VeChain and SafeMoon have also gained traction – and then there’s influencer coins. As BTC’s environmental impact comes under scrutiny, “green” alternatives like Chia are getting attention, too. Coin crowding is a new phenomenon with high volatility risk, and the long-term outcomes are still unclear”.
Big Tech’s problems. In Robinhood indicates that “this year, regulators are bringing real heat. Since the Apple-Epic trial in May, the temp has gone from steam room to sauna. Just last week, a House committee advanced major legislation to curb Big Tech’s dominance. Meanwhile, newly confirmed FTC leader Lina Khan is a Big Tech critic who could expand the scope of antitrust enforcement. Blocked acquisition and even tech breakups seem more plausible”.
And what is the biggest stories from this half according Robinhood?
Jobs: The Hiring Dilemma: Corporate America is raising wages to bring reluctant workers back.
Ransomware: Cyber attacks have been increasingly targeting critical infrastructure (including your gas), with ransoms often paid in Bitcoin.
China: China’s been cracking down hard on its tech giants (RIP, Ant Financial IPO). It seems there is such thing as too successful for the CCP’s liking.
Movies: The future of entertainment: the new normal for studios, theaters, and streamers.
Did someone say AMC?