MOMO’S GURUS IN THE STOCK MARKET BLAME EVERGRANDE ‘CRUSH ELON MUSK’ PLAN
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Contagion
Please click here for a chart of China Evergrande Group (EGRNF).
Note the following:
- The stock market is selling off in the early trade. The excuse is the fear of contagion from the selloff in Evergrande stock in China.
- Evergrande is the second-largest property developer in China.
- Evergrande has diversified into a number of businesses including electric vehicles. Not long ago, the owner of Evergrande boldly claimed that he was going to crush Elon Musk.
- All you have to do is to look at the chart of Evergrande and it becomes evident that Evergrande was in trouble.
September 20, 2021