Nasdaq Crosses 15K for 1st Time Ever; JWN, URBN Beat
Zacks Investment Research | Aug 24, 2021 06:14AM ET
On the way to its fourth-straight up day in the market, the tech-heavy Nasdaq wound up surpassing 15K for its first time ever, +0.52% on the day to 15,019.80. The S&P 500 met the four-day streak and set its own fresh record closing high — its 50th on the year.
The Dow almost gave away its gains in the last half hour of the session, but still closed up +0.09% — still around 0.70% from setting a new closing high of its own. The small-cap Russell 2000 put up another strong day, +1.02%. As we are in the dog days of summer, with many market participants out basking in their last rays of sunshine before the season turns, volume was predictably lower. Still, the upward drift we’ve seen this week (and the end of last week) feels like a nice sigh of relief. The Delta variant, one hopes, will be put in check by the FDA clearance of the Pfizer/BioNTech Questions or comments about this article and/or its author? Click here>>
Tech IPOs With Massive Profit Potential
In the past few years, many popular platforms and like Uber (NYSE:UBER) and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.
For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…
If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.
With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.
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