Welcome to the 6th B&R Beurs Investment Competition Update. Before we discuss the news, let’s look at how the indices around the world moved. While the European DAX lost 0.76%, the AEX gained a sizable 2.90%. On the other side of the Atlantic Ocean, the NASDAQ and DJI gained 1.14% and 0.87% respectively.
We started the week with some interesting news surrounding the two popular names Tesla and Bitcoin. The electric car manufacturer revealed they invested $1.5 billion in the cryptocurrency. In their 10-K filing, Tesla Inc. announced they expect to accept Bitcoin payments from their customers in the near future. Bitcoin saw its value rise to a new all-time high and bitcoin-related equities profited greatly as well.
Another hot topic this week was the impeachment of the former president of the United States, Donald Trump. Saturday night it was announced that Trump was acquitted by the senate on the charge of inciting the storming of the Capitol. The second impeachment trial showed the Republican party is divided over Trump's behavior. There were seven Republicans who voted in favor of conviction, but the required 67 votes were not met.
In the Flow Traders Investment Competition, Fundamenta Fortis, Omega Investments, and CFQ are still the number one, two, and three. Next Generation moved to the right column as they lost nine positions this week. CMG Investments stormed towards the top 10 by achieving a dazzling 11.5% return.
In terms of rankings, the second Investment Competition was less dynamic this week. In fact, all teams remained in the same position as they were. Aurelia is still leading the pack with Das Kapital and iValue Investments following. The number three achieved the best return this week, a modest 1.46%.