Donald Trump is back to fight to US Big Tech companies with his media group aiming to throw a new social media platform, TV, and streaming services. Trump’s TMTG would join the market through a SPAC merger. Those who love the adrenaline of speculation are simply going crazy about the news and about DWAC, which is involved in the deal and which saw its shares soar more than 350% after the announcement.

Elsewhere, WeWork rallied 13% after hitting the market through a SPAC deal as well, Netflix rallied 4.50% to a fresh record and Tesla shares hit $900 despite a slight miss on its Q3 revenues.

Snap however tanked 27% in the after-hours trading as it announced somehow disquieting results.

Bitcoin saw some profit-taking which could have to do, or not with the news that a technical bug sent the price of a coin to $8000 on Binance. We are heading into a perhaps slow weekend in Bitcoin after a shaky week with the arrival of the US first Bitcoin ETF to the market. 

This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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