A late burst of buying erased much of an early slide on Wall Street Tuesday.
The S&P 500 managed a gain of 0.1%. The tech-heavy Nasdaq lost 0.5%, having clawed back most of an early drop of as much as 3.9%. Facebook, Disney, Netflix and other communications stocks helped drive the comeback.
Early drops in Big Tech companies like Apple, Amazon and Microsoft moderated as the day went on. Tesla, which joined the S&P 500 at the end of last year, ended down 2.2% after being down as much as 13.4%. Bond yields held near their highest level in a year.
The S&P 500 rose 4.87 points, or 0.1%, to 3,881.367.
The Dow Jones Industrial Average rose 15.66 points, or less than 0.1%, to 31,537.35.
The Nasdaq fell 67.85 points, or 0.5%, to 13,465.20.
The Russell 2000 index of smaller companies fell 19.76 points, or 0.9%, to 2,231.31.
For the week:
The S&P 500 is down 25.34 points, or 0.6%.
The Dow is up 43.03 points, or 0.1%.
The Nasdaq is down 409.26 points, or 3%.
The Russell 2000 is down 35.38 points, or 1.6%.
For the year:
The S&P 500 is up 125.30 points, or 3.3%.
The Dow is up 930.87 points, or 3%.
The Nasdaq is up 576.92 points, or 4.5%.
The Russell 2000 is up 256.46 points, or 13%.7 Penny Stocks That Don’t Care About Robinhood
By the time you read this Vladimir Tenev, the CEO of the trading app Robinhood, will be testifying in front of Congress. The company’s role in the GameStop (NYSE:GME) short squeeze will be called into question.
However, the real issue at stake is the right of traders to buy and sell the equities of their choice. In the case of Robinhood, some traders are buying a lot of penny stocks. While definitions vary, penny stocks are generally considered stocks that are trading for less than $10 per share. These stocks are largely ignored by the investment community.
One reason is that many of these stocks are cheap for a reason. For example, the company may have a business model that is out of date. In other cases, they operate in a very small, niche market that doesn’t drive a lot of revenue.
And most of these stocks are ignored by the investment community. They simply aren’t considered significant enough to spend time debating.
But some penny stocks do have the attention of Wall Street. And they’re being largely ignored by the day trading community. The focus of this special presentation is to direct you to penny stocks that have a story that the “smart money” thinks will eventually be trading at much higher prices.
And that’s why you should be looking at them now.
View the "7 Penny Stocks That Don’t Care About Robinhood"
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