4.9 C
6 December 2023
Image default

Five Stocks Outperformed Bitcoin in 2020 Despite Banner Year for Crypto

Despite Bitcoin’s big run new all-time highs this year, the flagship cryptocurrency still lags behind a handful of US stocks in terms of returns to investors.

Electric vehicle and clean energy company Tesla (TSLA) leads the race as the year’s best performing stock.

The world’s most valuable carmaker has printed gains of over 679% after climbing from $84.90 in January to its current value of $661.77 this month. TSLA’s parabolic rally far exceeds Bitcoin’s run of over 236%. The leading crypto asset soared to an all-time high of $24,209 this month from $7,203 in January according to CoinMarketCap.

Renewable energy management company Enphase Energy (ENPH) follows Tesla with returns of over 587% this year. ENPH started 2020 trading at $26.37. Investors have pushed the price of ENPH to $181.39 today.

Number three is biotechnology company Moderna Inc. (MRNA), which rewarded investors with 530% year-to-date returns.

MRNA started the year at $19.57 and it is currently trading at $123.39. The Cambridge-based firm’s Covid-19 vaccine is the second to receive the emergency use authorization from the U.S. Food and Drug Administration.

Fourth is the interactive fitness platform Peloton (PTON). The company began 2020 trading at $28.9 and its value now stands at $162.72, representing year-to-date returns of over 463%.

At number five is Zoom Video Communications, Inc.,(ZM), which also witnessed a meteoric rise as people who work and study from home rely on the company’s audio and video conferencing app.

The company’s stock soared from $68.80 in January to its current price of $375.17 for gains of more than 445%.

News Source

Related posts

Crypto Exchange Bitrue Launches BTR on Binance Smart Chain


Bitcoin mining difficulty approaches ATH as price stabilizes above $18K


Block.one (EOS) CTO Daniel Larimer Tries to Find Polkadot’s (DOT) Advantages over EOS “Beyond Price and BP Selection”