Market Report for Dec 10 2020
Nasdaq Composite +37.5% YTD
Russell 2000 +14.0% YTD
S&P 500 +13.7% YTD
Dow Jones Industrial Average +5.4% YTD
NYSE Vol: 1.1 bln
Nasdaq Vol: 5.1 bn
Growth Portfolio % of Return:
FX & Comms: -5.25
Each of the major indices began at record highs on Wednesday but a decline led by Nasdaq Composite continued throughout the day.
DASH made its debut and opened about $75 higher than was expected and grabbed the majority of attention and limelight yesterday.
EDIT was the biggest winner from our book and closed over 17% up. Post-market it found some more strength and closed just shy of 25% up.
Today we are likely to see ABNB entering the market. We would find this of more interest than hotels for our portfolio but it will also depend on where price opens. It is estimated to open at $68 (originally $56-$60) and the likes of SNOW and DASH show that the pricing is somewhat irrelevant. We will look to buy a position and the size will depend on where it opens.
Let’s go trade!