It’s the first trading day of 2025, and the stock market has blasted in with speculative energy that could light up Manhattan. MicroStrategy, Robinhood, GameStop, and Nvidia are the top gainers.
Bitcoin shot past $96,000, dragging crypto-tied stocks along for the ride. Meanwhile, meme-stock fans got their fix after Roaring Kitty dropped a cryptic Rick James clip, fueling chatter and spiking GameStop shares. Across the board, indexes jumped, with the Dow gaining 200 points and the S&P 500 and Nasdaq rising 0.6%.
MicroStrategy shines as Bitcoin rallies
After exploding 360% in 2024, MicroStrategy gave back some gains in December, dipping over 23%. But that’s ancient history now, as Bitcoin’s momentum brings new life to the stock.
The company holds billions in crypto assets, making its stock a barometer for Bitcoin’s price actions. So you see why analysts remain bullish, with BTIG setting a price target as high as $690. That’s a far cry from today’s levels, but if Bitcoin keeps climbing, those targets might not seem so crazy.
Other crypto-tied names like Coinbase, Riot Platforms, and Mara Holdings followed the same script, posting gains as Bitcoin reignited enthusiasm in the market. And then there’s Fartcoin—yes, you read that right. The oddly named token jumped 45%, hitting a market value of $1.38 billion. Only in crypto.
GameStop and Nvidia find their groove
Meme-stock fever is never over, and GameStop’s loyal fans proved it today. Roaring Kitty, the infamous online trader who helped spark the GameStop craze in 2021, resurfaced on X (formerly Twitter) yet again with a cryptic Rick James video.
Was it a signal to buy? The internet thought so, and GameStop shares responded, climbing sharply during the day. Elsewhere, Unity Software also saw a bump, climbing 11%. Some thought Roaring Kitty’s cryptic message hinted at Unity instead of GME.
While crypto and meme stocks were busy, Nvidia quietly did what it does best—climb higher. The AI-chip giant gained 1.6% today, extending its 2024 dominance. The company was already a standout last year, riding the AI hype to massive gains. Its role as a leader in semiconductor tech made it a market darling.
Semiconductor stocks, in general, had a strong day. Broadcom, another key player, jumped 2% as bullish sentiment around tech stocks carried over from 2024. Analysts expect AI-driven companies like Nvidia to continue leading the charge in 2025.
The market as a whole started the year with a bang. The Dow Jones Industrial Average gained more than 200 points, while the S&P 500 and Nasdaq rose 0.6%.
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