The stock market has been through many ups and downs throughout this tumultuous year. Large companies such as Amazon and Johnson & Johnson have been growing in the stock market after coronavirus made an impact in the United States. Tesla, in particular, has been growing rapidly, even reaching $1,000 per share for the first time in the company’s history (1). The recent growth has been attributed to China’s interest in Tesla and the electric vehicle sector. A single vehicle, Tesla’s Model 3, has been in high demand abroad as parts of the world slowly begin to reopen. Recently, Tesla’s shares have fallen about 6% due to tensions rising between America and China due to the virus (2). This has had long term implications on the economy worldwide.
As previously mentioned, stocks of various companies have had their prices of stock dropping. The severity of the virus in America has been rising as time has increased. Therefore, it does not look like the economy will get better anytime soon. With large companies such as Nike and Tesla losing shares, it will be difficult for them to grow once the economy reopens. It is especially important for small businesses to be given the opportunity to reopen because they do not have the funds and reserve that large companies have.
Coronavirus has had a huge impact on the world. With the world being on edge for three months or more, the US economy has been through a rollercoaster of changes. While being in unprecedented times, it is important to be financially stable and the MORE Program can assist with this. The program gives high school students the opportunity to become more financially aware about their future, learn to manage money, build credit and more. With your help, we can expand the program to more high schools to give students the tools they need to excel in life.