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Technology

The Metaverse, Crypto and EVs Are Among 2021's Big Tech Winners (bloomberg.com) 28

Posted by msmash from the closer-look dept.
When Americans gather around the Thanksgiving table this week, the blistering rally in technology, electric vehicles and crypto-related stocks is likely to be a part of their conversations. From a report: There's a reason it will dominate the small talk: The tech-heavy Nasdaq 100 is now worth almost half as much as the benchmark S&P 500 -- the highest ever -- and the megacap tech stocks alone represent a third of the S&P 500. Nvidia and Roblox's sprint stood out in a year when the rest of the big tech names jogged to new highs, defying several calls to sell the sector around last year's thanksgiving due to soaring valuations.

Chipmaker Nvidia has soared 148% as booming chip demand and a foray into the metaverse made it the best performer on the Nasdaq 100. Applied Materials and Advanced Micro Devices were other winners, each rising about 80% and outperforming many of the megacap tech stocks. Tesla soared to a $1 trillion market value as the electric-carmaker's shares doubled in value, driven by a sustained pickup in sales, even as part shortages were crippling the broader auto industry. EV fever was even more evident with Rivian Automotive, which doubled in value in less than two weeks after going public. Lucid Group was the sector's other hot name. Roblox's tripling of value from its March listing to Facebook's name change to Meta Platforms showed the metaverse was the next big thing in tech. The rush to the space was evident with the Roundhill Ball Metaverse ETF, an exchange traded fund focused on the theme, surpassing $500 million in assets under management on Nov. 17, having doubled in just two weeks. From the digital world to digital money: Bitcoin briefly reclaiming $60,000 and a rally in smaller cryptocurrencies boosted a host of related stocks such as Marathon Digital Holdings, Riot Blockchain and MicroStrategy. Marathon Digital was among the top winners, with its stock jumping ten-fold.
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The Metaverse, Crypto and EVs Are Among 2021's Big Tech Winners More

The Metaverse, Crypto and EVs Are Among 2021's Big Tech Winners

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  • Hype for "Crypto". Again ? It's still an utterly pointless exercise which uses lots of energy and produces precisely nothing of value.

    • Hype for "Crypto". Again ? It's still an utterly pointless exercise which uses lots of energy and produces precisely nothing of value.

      Says you! Why if mining crypto is nothing but hot air, goddamn natural gas get much more expensive to heat my home and I’m sold...

    • Articles like this are part of the "pump" in the pump-n-dump plan.

      Hype -> HYpe => HYPE - - -> sell!

  • Metaverse is a winner? (Score:4, Insightful)

    by AmiMoJo ( 196126 ) on Monday November 22, 2021 @10:42AM (#62010053) Homepage Journal

    I thought Facebook, sorry Meta, was roundly derided for their half baked Metaverse rubbish. Vague and unclear goals/benefits, and little in the way of working technology to show for it.

    Right now it seems like you just get to wear an annoying, vertigo inducing VR headset, getting no exercise from virtually walking around an office, while your PC wastes energy trying to render it all. It's basically Second Life but you need a powerful PC and expensive hardware to meet the minimum requirements.

  • Because the marketing department says they are? I don't understand what the "metaverse" is and at this point, I'm too afraid to ask. Same with NFT.

    with lawn get(off)

    • When Bloomberg says "winners" what they mean is where money is flowing and stocks went up.

      Presumably slasdotters with a much better sense of where real value lies should be able to spot the discrepancies between prices and values and turn our insights into big gains. Yet it doesn't generally seem to work out that way.

      • Presumably slasdotters with a much better sense of where real value lies should be able to spot the discrepancies between prices and values and turn our insights into big gains.

        Under capitalism things are worth what people will pay for them, and slashdotters aren't known for being tapped into mainstream culture, but into counterculture which will inform the next mainstream culture. As such we are more likely to perceive the quality of something than the average person, but this is largely irrelevant since people spend money on appearance over quality. You can see this fact demonstrated in literally every industry. New models of everything sell better than old models even when infe

        • What it seems to me is that people on ./ or reddit generally don't like anything, ever. Everything is junk. And it's not really new. And the motivation for it is a conspiracy.

          When is the last time a tech advance was reported on ./ and recognized and such and generally met with approval?

          Which as you said, this is usually correct. Sturgeon's law. But stopping there is the zero rate classifier. Not that useful.

          • When is the last time a tech advance was reported on ./ and recognized and such and generally met with approval?

            Because slashdotters are able to recognize most things at not advancements, if you're buying into something that's increasing the cost of living and reducing your freedoms and property rights. You are a defacto moron.

            The reality is nerds know the world is populated by unintelligent people so most "innovations" aren't. Steve jobs didn't really innovate technically with the ipod that, there were better Mp3 players on the market with more features but Steve jobs realized that style and aesthetics matter. AK

      • Presumably slasdotters with a much better sense of where real value lies should be able to spot the discrepancies between prices and values and turn our insights into big gains. Yet it doesn't generally seem to work out that way.

        Lookit this guy over here that thinks the stock market works on facts and logic rather than large back room deals and herding behaviors. Warren Buffet won his bet, number nerds invest in boomer crap like low fee ETFs or dusty stocks, it takes a smooth brain to yolo against house odds and win.

  • "likely to be a part of their conversations" (Score:5, Insightful)

    by tsqr ( 808554 ) on Monday November 22, 2021 @11:09AM (#62010109)

    When Americans gather around the Thanksgiving table this week, the blistering rally in technology, electric vehicles and crypto-related stocks is likely to be a part of their conversations.

    I actually laughed out loud when I read that. When my family members and friends gather around the Thanksgiving table, we talk about what's going on in each others' lives. The stock market? Never comes up.

    • Same.

      I am trying to imagine a situation occurring this Thanksgiving where cryptocurrency comes up naturally as part of the dinner conversation.

      Facebook might but only for the Thanksgiving family picture we narcissistically think all our friends want to see.

  • so much winning.

    I can't wait to get onto the metaverse. Obviously that won't happen in 2021. But amazing to see VRML brought back from the grave. It's been 20 years since I put on VR goggles as well, I wonder if they're even slightly better now. Or if I'll just have a fixed focus length and the resulting eye strain like we did in the old days.

  • Will never be a meme.
    Stop forcing.

  • Ranking the transformation from combustion engines til electric vehicles alongside the buzzword Metaverse is embarrasing in so many ways.

    Surely the FB stocks looks fine, but it is certainly not because of the phantasm Metaverse or the naming of the holding company. It is purely because of ads revenue.

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