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One of the hottest exchange-traded funds is sliding again, and the selloff may only get worse.
Dogecoin (DOGE-USD) has nearly doubled in value since April, rising over 50% after another surge driven by internet users who are trying to push the coin to $1, as similar plans for "Doge Day" fell flat last month.
Cocrystal Pharma stock doubles on massive volume shortly after progress on coronavirus drug candidates
Shares of Cocrystal Pharma Inc. COCP, +72.58% more than doubled on massive record volume in afternoon trading
It took Amazon 13 years to deliver a 10,000% return to investors. It has now taken Dogecoin five months. The cryptocurrency (DOGE-USD) hit a new all-time high of $0.60 on Tuesday, pushing Dogecoin's market cap north of $70 billion to become the fourth-most valued coin, according to Yahoo Finance's data partner CoinMarketCap. That's now larger than the market cap of Moderna, one of the companies shipping COVID-19 vaccines to save the world from the pandemic.
California ending Oil extraction before 2046
California hasn't been shy about wanting to ditch oil, and that now includes oil production. Earther reports that Governor Newsom has announced plans to end oil extraction in California by 2045. Officials are still determining the exact path, but the phase-out will occur through the Climate Change Scoping Plan meant to cut greenhouse gas emissions and achieve carbon neutrality by the same year.
Newsom is off to a quick start, at least. The governor simultaneously ordered California's Department of Conservation to stop issuing new fracking permits by January 2024.The move makes California the first state to commit to ending oil extraction. While 2045 is a long way off, this still represents a bet that clean energy and transportation will grow to the point where oil simply won't matter to the local economy. Whether or not other states follow suit is another matter. California was the seventh-largest producer of crude oil in the US in 2020, producing 145 million barrels, but it paled in comparison to heavyweights like Texas (1.8 billion), North Dakota (431 million) and New Mexico (379 million). Other states might be reluctant to end oil extraction if it delivers too much of a financial blow. While the plans are ultimately be good news for the environment, their symbolic effect may outweigh the practical impact.