The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) fell to an intraday low of $312.47 before finishing lower by 0.03% at $315.91 Tuesday. Weakness came from the semiconductor space, which was among the largest losers in the index Monday.
U.S. indices at large were trading lower as the liquidation of a U.S. hedge fund weighs on bank stocks and as tech stocks continue to fall amid a rotation out of the sector due to yield concerns and reopening optimism.
Here are the day’s winners and losers from the Nasdaq, according to data from Benzinga Pro.
Facebook shares were trading higher after Deutsche Bank maintained a Buy rating on the stock and raised its price target from $355 to $385.
Elsewhere On The Street
- The broader market has been highly volatile since late February, with tech stocks bearing the brunt of the sell-off. The current downturn in the market has seen sector rotation out of tech stocks. After Tesla Inc (NASDAQ: TSLA) hit a split-adjusted high of $900.40 in late January it pulled back sharply and plummeted to a low of $539.49… Read More
- ARK Invest CEO Cathie Wood‘s most recent statements about Bitcoin (CRYPTO:BTC) suggest that the digital asset’s trillion-dollar valuation is nowhere close to where it might be in the near future. Speaking at a CBOE panel, she said, “If we add all of the potential demand relative to the limited supply, we come up with incredible numbers… Read More
- Apple Inc (NASDAQ: AAPL) recently unveiled its family of iPhone 12 models, which are the first to be compatible with 5G mobile networks. Analysts are expecting 5G iPhones to trigger yet another massive global upgrade cycle among existing iPhone users… Read More
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