The Real Reason Big Tech Dominated The Market In 2020 - Seite 2

While many may not have the time to submerge themselves in an entire internet subculture, it is certainly worth the time to understand why these stocks have soared in 2020.

What's Special About These Companies?

On the day of its much-hyped IPO,  DoorDash jumped from $102 to $189 for an increase of over 85% in a single day. Facedrive (FD.V ; FDVRF) soared from $2 to nearly $25 at its peak and is currently sitting at a 647% increase over the year. Airbnb was nearly an exact replica of the DoorDash IPO, soaring from $68 to $160 in a single day, marking a 135% rise. Tesla arguably the most impressive of the lot, has seen nearly a 600% return this year from what many traditional investors already considered an overvalued price.

Each of these stocks was a favorite amongst young investors who value community, environment, tech, and accessibility. Of the four, Facedrive is probably the best example of what modern investors are looking for. It sells itself as a 'People and Planet First' business that is attempting to become the world's first ESG tech ecosystem. 

Just like Tesla, Facedrive (FD.V ; FDVRF) is determined to make electric vehicles mainstream, with an EV subscription service that will make these 'luxury vehicles' accessible to the masses. It is also challenging Uber and Lyft in the multi-billion-dollar ride-sharing sector, where it is the first emissions-free service available. It not only offers EV and hybrid-cars to these customers, but it offsets any emissions from traveling in a gasoline-powered car.

When the food delivery service boomed during COVID, DoorDash took advantage of the opportunity to gain popularity amongst modern investors. But it isn't just the ease and accessibility of ordering home that drew younger investors, DoorDash was also determined to ensure it gave back to small business. It's recent pledge to invest $200 million in the communities it works in made that clear. But Facedrive wasn't far behind here either. It's emissions-offset, community-focused food delivery service saw its orders soar 25% in a single month as consumers looked for an ethical alternative to the majors.