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Rivian Doubles in Price In Less Than One Week Since Its IPO Rivian (NASDAQ:RIVN) is an electric vehicle startup backed by Jeff Bezos, the CEO of Amazon. It listed its shares last week on NASDAQ at an IPO (initial public offering) price of $78. To the surprise of many market participants, the stock price has doubled in just one week since then, trading close to $170/share, resulting in a market capitalization larger than that of some well-established companies such as Volkswagen. Investors still bet big on renewable energy solutions, as many governments in the developed world plan to phase out the combustion engine in the next decade or so. As such, electric vehicle companies have surged on the world's stock exchanges, even though they are not manufacturing that many vehicles. Take Rivian — founded in 2009, it currently employs about 6,000 people. In the first trading week, the stock market performance propelled the company above Ford's market capitalization, despite Ford employing 178,000 people and delivering far more cars. Other Electric Vehicle Makers Have Seen Stock Price Surge in 2021 Rivian's performance in the first trading week since it became a publicly listed company should not come as a surprise. While impressive, its stock price performance follows closely in the footsteps of other similar companies that have outperformed the market in 2021. Lucid Group (NASDAQ:LCID) is one of them. It develops electric vehicle technologies such as full cars as well as battery systems. The stock price has gone up over +340% this year alone. Tesla is another such company, only this time, it needs no introduction. Tesla is one of the world's biggest brands, and its charismatic CEO, Elon Musk, is constantly in the papers. Most recently, Musk held a Twitter poll asking if he should sell 10% of Tesla shares. Millions of voters urged him to do so — so he did. Yet, despite the massive selling, Tesla shares have rallied over +145% in the last twelve months, and more than +2,600% in the last five years. TSLA currently trades above $1,000 a share, as buyers emerged on every dip. All in all, the electric vehicle industry is popular among investors as governments fight to tackle climate change. Sky-high valuations seem to not matter for retail investors who want to get exposure to the industry and are willing to pay multiple times their current earnings. FXOpen Blog

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SATOSHI NAKAMOTO'S IDENTITY COULD BE REVEALED IN COURT The identity of bitcoin creator Satoshi Nakamoto, who had appeared exclusively online before vanishing in 2011, remains a mystery. The glory of the creator of the world’s principal cryptocurrency and alleged holder of 1.1 million bitcoins haunts many a crypto enthusiast. Various versions suggest that the bitcoin creator hiding under the pseudonym is Dorian Nakamoto, Nick Szabo, or Hal Finney, but these theories have not been confirmed. Today, the person in the media spotlight is Craig Wright, a programmer who, for several years now, has been claiming he is the notorious Satoshi Nakamoto. While the general public considers the evidence he’s presented to be inconclusive, his story has taken an unexpected turn. The family of Dave Kleiman, a programmer who contributed to bitcoin’s creation but died in 2013, sued Wright in Florida, demanding that he share the 1.1 million bitcoins. The family's lawyer claims to possess evidence that Kleiman had mined the coins that are stored in Satoshi's wallet. It is up to the court to rule out whether Wright is who he claims to be and whether he should share his stash of bitcoin. One important thing is that if Satoshi's identity is confirmed, Wright will become the most authoritative personality in the crypto world, dramatically affecting the BTCUSD rate. So far, bitcoin has been weakening, which we talked about in our earlier publications. November 10 (1) saw high sales volumes. They held back the upside attempt on November 14-15 (2) and jeopardized the trendline (3), which has now been broken. Note that the November 15 high (2) is 50% of the AB decline, while the November 14 bullish candlestick has low volume (5), implying weak demand. All of this paints a bearish picture. We expect an attempt to test the breakdown of line (3). FXOpen Telegram Channel

EURO AT MULTI-MONTH LOW This Tuesday morning, the euro futures on the CME are trading below the psychological level of 1.14. Compared with the May 25 high of 1.227, the drop has already amounted to more than 7%. The last time the euro traded below 1.14 was in July 2020. One of the drivers that pushed the euro below the 1.14 level was European Central Bank President Christine Lagarde’s Monday comments. She positioned that inflation would remain high in the Eurozone for longer than previously expected. “Despite the current inflation surge, the outlook for inflation over the medium term remains subdued,” she said. But it is too early to raise the interest rate. Given the time lag characteristic of monetary policy implementation, tightening measures would do more harm than good, Lagarde added. This means that the euro emission policy will continue, so the EURUSD rate has reasonably decreased, but from a technical point of view, we can expect a rebound. The 1.14 mark served as a strong resistance (1) in stormy March 2020. In June, this level proved its significance once again (2), but was broken through upwards against growing volumes (3) in July 2020. Now we may see 1.14 acting as support and being effective at least to some degree, which, however, may prove to be sufficient for speculation on the short-term horizon. FXOpen Telegram Channel

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Dear FTC participants and followers! We are happy to bring to your attention an interview with Sergey Shirko, the founder of the ForexCup Trading Championship. Now that the competition is nearing its end, it's a good time to talk about which of the objectives set by the organizers have been achieved, and how the community around FTC 2021 looks at the moment. We also asked Sergey about the values that FTC offers its participants, his own trading background, and the future for FTC 2021 winners. We hope you enjoy your reading! Regards, FTC2021 team

Overview of FXOpen's Best-performing PAMM Accounts in October 2021 As the world continues grappling with financial and energy crises caused by COVID-19-related economic problems, investors have developed a very cautious approach to multiplying their savings. One effective method to protect one’s assets and earn more is to join a stable PAMM account provider. We recommend choosing a provider who will adequately assess the trading situation in November and turn it in their favor, making use of fluctuations in various currency instruments’ rates. This last autumn month, we bring to your attention the most promising and profitable investment accounts on the FXOpen platform. Read Full on FXOpen Company Blog...