Nasdaq Climbs Despite Netflix Woes; PayPal Joins the Bitcoin Boom
The stock market has gotten increasingly volatile lately, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the focal point for many investors. After pushing to a nearly 1% gain early on, the Nasdaq fell into negative territory briefly before posting gains of around 0.25% at 2:30 p.m. EDT.
There were several countervailing trends affecting the Nasdaq on Wednesday. Helping to lift the index was PayPal Holdings (NASDAQ: PYPL), which has benefited dramatically from the trends pushing fintech forward so far in 2020. First, though, Netflix (NASDAQ: NFLX) wasn't as fortunate, as investors reacted negatively to its latest financial results.
Shares of Netflix fell more than 6% on Wednesday. The stock reacted negatively to news the streaming video giant released late Tuesday about its third-quarter financial results.
Source Fool.com
