Alphabet Inc. stock (NASDAQ: GOOGL) jumped 3.76% yesterday to close the day trading at $1717.39. This came after the company announced plans to develop a self-sufficient new town-like tech hub in the Mountain View area.
Despite the green ticks seen in key tech stocks, traders appear to have taken profit off the shares of Apple and Tesla as both stocks strive to stabilize after the implementation of their respective stock splits.
Through a filing to the SEC, Baillie Gifford & Co. disclosed that it has sold 19.23M of Tesla (TSLA) shares to meet the company’s internal guidelines. Tesla shares dropped by nearly 5% yesterday and lost another 2% after hours.
Macy’s jumped over 6% at the pre-market. The surge is attributed to the stronger than anticipated 2020 Q2 results across all its three brands: Macy’s, Bloomingdale’s and Bluemercury.
Major stock indexes including the Dow Jones Industrial Average gained 215.61 points, or 0.8%, to close at 28,645.66. The S&P 500 climbed 0.8% to 3,526.65 and the Nasdaq Composite advanced 1.4% to 11,939.67. Both the S&P 500 and Nasdaq hit all-time highs.
Zoom (ZM) stock surged 40.78% on Tuesday. The impressive performance is attributed to the 2020 Q2 results released earlier in the week.
Tesla plans to sell its stocks worth $5 billion through banks. Wedbush analyst Dan Ives called this idea a “smart move”.
Apple expects a massive demand for its upcoming flagship 5G iPhone 12 and is all geared up for the launch next month in October 2020. Apple has successfully dodged the coronavirus economic slowdown and despite the contracting economy, it expects to do it in the coming quarters as well.
Amazon (AMZN) stock price is rising after the company has announced that its drone delivery fleet was approved by the FAA for trial commercial flights.
With the Dow measuring the stock performance of 30 large companies listed on stock exchanges in the United States, its rise is an indication that the big market cap companies are headed for a bull run.
Zoom posted Q2 revenue of $663.5 million outperforming the benchmark of $500.5 million. ZM stock is up today in the pre-market.
While the euphoria related to Tesla and Apple stock split has caught up with investors seeing this as an opportunity to get their hands on the tech stocks, analysts believe this tendency may be somewhat misguided.
Both Apple and Tesla completed a stock split on Monday: Tesla did a 5-for-1 stock split, while Apple issued a 4-for-1 stock split. And while it may now look like shares became cheaper for the two high-flying stocks, that’s not true.
The bullish call on SPCE stock comes despite the Virgin Galactic’s operations having been severely affected by the ongoing coronavirus pandemic
With free Netflix access, viewers will be able to watch the movies with all language options. Meanwhile, NFLX stock is slightly down.