Are Stocks in a Speculative Fervor? Bitcoin, NIO Offer Some Clues.

Speculative assets are on fire. Bitcoin hit a 52-week high Friday. So did shares of Chinese electric-vehicle makers NIO, XPeng, and Li Auto. All four assets have traded down off their fresh highs in midday trading.

Is there anything to be learned from recent trading action? Is there a warning for investors?

When there are a lot of questions…

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