The QQQ Ripped To An All-Time High This Afternoon. Here's Why

Benzinga2021-04-14

The Invesco QQQ Trust Series 1 QQQ raced higher Tuesday to an intraday all-time high of $341.08 before finishing higher by 1.17% at $340.60.

The major indices were trading higher as the yield on the 10-year Treasury fell to 1.625% Tuesday afternoon. Yields on the 10-year were otherwise hovering around 1.7% and higher in the month of March, weighing on names in growth and tech.

The SPDR S&P 500 ETF Trust SPY touched an intraday all-time high of $413.52 before closing higher by 0.3% at $412.86. TheSPDR Dow Jones Industrial Average ETF TrustDIAfinished lower by 0.23% at $336.79.

Here are the day's winners and losers from the Nasdaq, according to data from Benzinga Pro.

The leaders for the Nasdaq were some of the top names in growth and tech:Tesla Inc TSLA, Paypal Holdings Inc PYPL and Apple Inc AAPL.

Tesla shares were trading higher on continued strength following Monday’s Canaccord Genuity upgrade.

Meanwhile, Micron Technology, Inc.MU,Microchip Technology Inc.MCHPandIntel CorporationINTCwere among the top laggards in the QQQ.

Elsewhere On The Street

  • CBSE, a pre-IPO Coinbase contract listed on crypto exchange FTX, traded at $594 at press time, implying a valuation over $140 billion for Coinbase ahead of its direct listing on the Nasdaq. FTX’s Coinbase contract, CBSE, tracks Coinbase's market cap divided by 250,000,000. At the end of Coinbase’s first trading day, CBSE balances will convert into the equivalent amount of Coinbase Fractional Stock tokens…
  • Chinese electric vehicle makerNio Inc.NIO confirmed its long-awaited partnership withChina Petroleum & Chemical Corp ADRSNP 0.06%on setting up battery swap stations at Sinopec’s gas filling stations, cnEVpost reported Monday. Nio has sent out a media invitation, saying it will sign a strategic cooperation agreement…
  • Earlier this year, NHTSA determined that unintended acceleration complaints about Tesla vehicles were not a fault of the vehicle, but a driver error. Like many auto manufacturers, Tesla gathers a lot of data about their vehicles, including what pedals are pressed, when and how hard. But that doesn't stop drivers from claiming they have experienced unintended acceleration in their vehicles…
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • KydenC
    2021-04-14
    KydenC
    Good!
  • TheHaq
    2021-04-14
    TheHaq
    All the way to the moon baby hahaha
  • ohty0308
    2021-04-14
    ohty0308
    Let’s go tech!!!
  • PickaChew
    2021-04-14
    PickaChew
    Yes
  • PickaChew
    2021-04-14
    PickaChew
    Yes
Leave a comment
5