Moderna, Zoom Reveal the Nasdaq's Split Personality
Investors have had a lot to wrestle with lately, but on Monday morning, they got some good news. Although other major market benchmarks got most of the spotlight because they climbed to what would be new record levels, the Nasdaq Composite (NASDAQINDEX: ^IXIC) nevertheless moved higher by about 0.5% as of 11 a.m. EST. That leaves the Nasdaq within 1% to 2% of putting up a record close of its own.
Yet within the Nasdaq, there's a tug of war going on. The market's broader gains are largely due to good news on the COVID-19 front from Moderna (NASDAQ: MRNA), which saw its stock rise again on Monday morning. Yet what's good news for companies hit hard by the pandemic has been hitting some stay-at-home stocks for a loop, especially Zoom Video Communications (NASDAQ: ZM). It's likely that as long as the coronavirus crisis is a prime factor in the market's day-to-day moves, investors will keep seeing these disparities inside the Nasdaq.
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Source Fool.com
