We are one week three of our stock journey at Freedom Finances and we are starting to see real impacts on our choices. Tesla has had a difficult few weeks, dropping over 15% since our initial investment, while the three other investments (GameStop, CPI Card Group Inc., & ProShares S&P 500 ETF) thrive. Let’s review!
Overall, the biggest increase continues in CPI Card Group (PMTS), but this week it took quite the jump up 10.78% from a couple of weeks ago. ProShares S&P 500 ETF is also moving upwards, trading 5.09% higher than we started, up 1.55% from last week. The bad news is that Tesla continues its slide after a long week of bad news for the company. Along with GameStop’s poor performance, the overall fund of $4,000 is down for the first time, but only a few dollars (-$11.79).
Bradley – Tesla (TSLA) loss of $162.12 (-16.21%)
Tesla had a terrible week. Profits were down, and political noise led to a poor week on the market. Tesla’s future seems to be in its new Cyber Truck and autonomous driving, but there continue to be delays on these fronts. There’s also confusing political tension between the company, its CEO, and presidential candidates, but again, traders will likely move on from this political rhetoric within a few weeks and focus on the company and its profits. However, if the company continues to show poor performance, we may continue to see a slide until the business recovers.
Dylan – GameStop (GME) loss of $8.33 (-0.83%)
GME closes the week at a loss for the first time in a few weeks. It’s not much, but the meme stock is unpredictable. That being said, the market overall has been unpredictable and unstable since we started our journey. GME seems to be handling the market well, but we never know when the next spike is coming, or if it will slowly fade away until someone brings it up in a few years…
Karrie – CPI Card Group Inc. (PMTS) increase of $107.81 (+10.78%)
The best performer this week and the best performer since we’ve started, PMTS has had amazing movement. They look to release 2nd quarter results on August 5th and investors seem excited. If the results are strong, we may see more continued movement upward. Fun note: if this stock hadn’t had the performance it has, our overall fund at Freedom Finances would be in a bit of trouble…
Nick – ProShares S&P 500 ETF (NOBL) increase of $50.85 (+5.09%)
NOBL continues to make solid movement, and as an ETF continues to beat the S&P 500. This makes this a great option for investors who are looking for an ETF that can mirror (or beat) the market. The S&P 500 had another bad week on the stock market, but not only did NOBL beat the S&P, it made a profit. I find this to be an intriguing fund, as many look at ETFs to be strong, but mutual funds are stronger because they aim to beat the market while ETFs will generally match the market. However, when we have a fund like this one that is outperforming the S&P, we should keep an eye on it, and maybe even consider investing. If you’re interested in learning more about this fund, you can find good information here.
Keep following our journey each week to see who will end up with strong profits! I suppose that most of these stocks will stabilize and eventually make a profit (not sure about GME though). To view our last week’s update, click here. To view our original post, click here.