Half way through the year already.
June was rather stable overall given the last few months. There were opportunities with a few ups and downs, but while the FTSE 10 and the Dow Jones were overall lower at the end, the S&P500 was a bit higher and the Nasdaq reached record highs. Tech stocks look to stay strong and quite a few of the big player names such as Amazon and Tesla saw continued growth. So probably some people saw great gains while for others it was a bit dull.
Gold mining, gold explorers and tech stocks. The place to be right now? I feel both are strong candidates and one perhaps hedging a downward turn in the economy. Technology will always evolve and strive to be better. This may be hampered by a downturn in the economy, but it actually still doesn’t go away. We still want upgrades and better things. For example our phones and computers wear out and we expect significant improvements when we replace them.
The gold price reached records highs in June, but crucially many forecasters believe this to be just the beginning. It’s certainly hard to disagree as the world and in particular the United States continues to reel from the effects of Covid. With the UK getting back to work, almost out of economic necessity and perhaps regardless of the virus coming back it all seems inevitable that gold will be remain the safe haven for many investors.
Last month I predicted that the Australian gold explorer Greatland Gold (GGP) would be a great choice of stock and I backed it to climb in June. It did climb by around 20%, before dropping back to 14%. Did you invest?
Given most of the indexes above dropped over this time it was a fairly decent return. What is more I still back this to rise possibly by another 20% over July with a lot of drilling results to come. Its new broker target is 15p. That’s 25% higher. It remains my biggest holding and in the economic uncertainty I’m staying strong.
Although pleased with GGP My biggest gains however….
Fastly – it grew 80% in June! I only got on board part way and made a mere 25%. Still not too shabby!
Tesla – 20%
Square – 19%
Losers – I actually don’t think I really had any from positions I had open at the beginning of the month!
Happy investing & stay safe.
As per Freetrade’s policy always remember to do your own research.
Remember that past performance is no guarantee of future performance.
This is a discussion only thread and is not advice to invest in any particular stock.