Splunk, Okta Show Nasdaq's Risks, Rewards
Investors in the Nasdaq Composite (NASDAQINDEX: ^IXIC) have been richly rewarded in 2020, and December has gotten off to a good start for the index. Record highs have been frequent for the Nasdaq, and on Thursday, the benchmark appeared to be poised to reach new heights yet again. As of just after noon EST, the Nasdaq was higher by more than half a percent -- gains consistent with the remainder of the stock market.
Underlying the overall market, though, there were winners and losers. Okta (NASDAQ: OKTA) was one of several tech stocks that posted solid gains after releasing favorable earnings. However, Splunk (NASDAQ: SPLK) showed that not all Nasdaq stocks can satisfy their investors all the time.
Shares of Okta were higher by 8% on Thursday, adding to recent gains. The cloud identity protection specialist made investors happy with its fiscal third-quarter financial results.
Source Fool.com
