American Union Times & Papers 

           The Nasdaq this year had a crazy ride. Initially, the Nasdaq was making good closings up to mid-early February when the Coronavirus hit. The Coronavirus caused the Nasdaq to go down around 30% from February to March. This deficit caused hundreds of millions of dollars of losses among many investors. However, following the deficit, the Nasdaq has recovered strong. Despite losing around 30% of its evaluation around February as mentioned before, the Nasdaq has gained around 6000+ points from its lowest point. However, despite good numbers from the stock market, many small business owners that are not trading publicly have been forced to close thus leading to income inequality.

           2020 gave many stocks a successful and an unsuccessful year. A good stock this year includes electric car manufacturers Tesla Motors and Nio who both grew their stock by more than 700% each in this year alone which is also why Elon Musk became the second richest person in the world. Each stock grew following good news and for Tesla, good quarterly revenues following the Coronavirus Pandemic. However, when there are winners, there are also losers. Hertz, which is a company that specializes in renting out cars, are one of the losers. Hertz initially started-off the year at $15.88 and ended at $1.28 thus resulting in a 92% loss for the company. This thus forced Hertz to file for bankruptcy.

            The future of the stock market is unknown. However, one thing is known, if the stimulus package does happen to pass the United States Congress, then the stock market will have a single day boost. This is partially because when more money is given to the American people, then more Americans will put money into the stock market thus buying stocks and jacking up prices. As of now, the market does look very high but much is unknown regarding the future. Investors do not know what they do not regarding the following events thus suggesting that it may or more not be like 2020.