If you feel like you’ve missed out on the wild rush that drove dogecoin (DOGE) to stratospheric heights recently, you’re not alone. The memecoin has minted millionaires in 2021, with holders since last year seeing the value of their investment skyrocket 24,600 per cent higher since May 2020.
Elon Musk’s audacious endorsements of dogecoin have driven its price through the roof over spring. Investors who purchased the coin in May, though, have lost money. Those who invested a little are down a little. Those who invested a lot are down a lot.
Doge’s recent troubles, tied to the broader crypto selloff, were nevertheless instigated by Musk himself in a May 8 appearance on the popular US comedy show, Saturday Night Live.
In a humorous exchange, Musk “admitted” to a cast member that dogecoin was a “hustle”. That was enough to send dogecoin tumbling during the airing of the show, eventually settling at around 28 percent lower in the hours that followed.
Since then, many investors see DOGE as a deeply flawed cryptocurrency, because it is almost entirely influenced by one person, Elon Musk, and the Reddit army who swoon over his every utterance.
Doge has, now, again seen another semi resurgence, up to around $0.41 after Coinbase announced it was finally listing the token, but its intrinsic problems remain. We’ve seen these spikes before, usually right after Elon Musk tweets an emoji of some sort.
Amazon To Steal DOGE’s Thunder
Amazon, though not as wildly volatile as DOGE, is poised to reliably earn a great deal for investors year after year, because it’s backed by a business and a model that produces real earnings, which DOGE will never provide.
This unstoppable stock is also prone to economic volatility, of course, but it will take more than a gag on late-night television to pull the rug out from under the share price.
3 Reasons Why Amazon Is A Great Investment In 2021
Amazon’s performance as a company seems to have moved past the covid-led bull market that saw its stock price surge during the pandemic. As the US recovery picture begins to evolve from ideas into fast-moving reality, Amazon seems to have maintained its stellar performance.
For the first quarter of 2021, the company reported net income that more than tripled compared to the same period a year before. It wasn’t just a momentary spike, either. Operational cash rose 70% year on year to $67.2 billion.
Prime Video Is A Primo Money Spinner For Amazon
Meanwhile, Prime Video, the streaming service available to Amazon Prime’s 200 million+ subscribers, is contributing more than ever to Amazon’s bottom line. Overall, Prime subscribers spent 70% more time watching the VOD service than in the prior 12 months.
And Prime only looks set to get harder to let go of for members: Early this year, Amazon announced a 10-year deal with the NFL, the most popular sports league in the United States, to become the exclusive home of Thursday Night Football.
Then in the second quarter of 20201 came the explosive announcement that Amazon had struck a deal to acquire MGM studios for $8.5 billion, a move which will see the company add more than 4,000 titles to its burgeoning film and television catalogue.
Its newly acquired movie franchises include the James Bond and Rocky film series, while the studio also holds rights to around 17,000 TV shows such as The Handmaid’s Tale, and the FX hit Fargo. The purchase marks a serious play in Amazon’s bid to overtake Netflix as the streaming service of choice for viewers around the world.
Amazon Expands Into Healthcare
It’s been a long minute since Amazon was only an e-commerce retailer, but many analysts think its latest expansion could be its biggest one yet. In March, the company announced plans to roll out its Amazon Care service, currently only available to some of its employees, to other US employers who provide telehealth services to their employees.
This new venture, which includes telemedicine and home care visits, opens up an enormous new market for the tech titan, as it increasingly weaves its way into every aspect of consumers’ lives.
“By supplying Amazon Care as a workplace benefit, employers are investing in the health and wellbeing of arguably their most important asset: their employees,” the company stated in its announcement.
The service, which includes a mobile app that allows people to connect with medical practitioners by video or chat, will provide a “range of urgent and primary care services”, but doesn’t currently aim to fully replace comprehensive medical coverage.
As part of its product, Amazon Care will offer services including Covid-19 testing, vaccinations, treatments for illness and injury, preventative care, sexual health and prescriptions.
A recent study by McKinsey showed a rise of 11% usage of telemedicine in 2020 when 46% percent of Americans used virtual healthcare.
The latest venture is yet another feather in the cap of Amazon, which has expanded from its origins as an online book store to becoming a vital part of our media, cloud-computing, robotics, AI and even groceries in the US.
Prime Day Set To Boost Amazon Earnings In Q2
Amazon’s deals day, Prime Day, has become akin to the famous Black Friday shopping holiday. This year, it’s kicking off on Monday, June 21 and will boast more than 2 million special deals, covering every category including Amazon’s own digital services.
The event will take place in the US and different regions across Europe, the Middle East, Asia and Australia.
Last year, the pandemic caused Prime Day to be shifted from its usual July date to October. But despite economic turmoil at the time, the event offered a major boost to Amazon. The company said that 2020 was a record-breaking event, with small and medium-size businesses seeing a 60% upturn in sales compared to Prime Day 2019.
This year, Prime Day is expected to generate at least $10 billion in sales, leading some analysts to believe that there is room for even further gains on the stock’s impressive 2021.
Play It Cool
Admit it – it’s hard to watch DOGE millionaires brandish their winnings without feeling the urge to sell the house and acquire several thousand digital shiba inus. Making relatively less volatile trades on Amazon stock won’t completely cure your FOMO, but it will boost your chances of coming out the other side with something to show for it over the long term.
Sign up at TIOmarkets to register with a trusted, regulated broker to trade Amazon or hundreds of other stocks, currencies, metals or energies, and consign your DOGE delirium to the past.
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