Nasdaq at Record High Again; Peloton Climbs on Gym Fears; DraftKings Shrugs Off Sports Closures
For the second day in a row, the Nasdaq Composite (NASDAQINDEX: ^IXIC) closed at an all-time high. Substantial gains concentrated among the seven largest stocks in the Nasdaq-100 Index had a significant impact on the broader Composite as well, and investors seem to have no concerns about the potential for failure on issues like COVID-19, economic stimulus, or geopolitical relations. Both Nasdaq indexes finished the day with gains in the neighborhood of 0.75% to 1%.
Beyond the largest stocks on the Nasdaq, though, there were also some companies that stood out. Peloton Interactive (NASDAQ: PTON) has soared in the coronavirus pandemic, and even the prospects for reopening couldn't hold the stock back today. Meanwhile, DraftKings (NASDAQ: DKNG) faces the fallout from decisions to shut down some sports leagues, but investors don't seem worried about their being a lack of games for the sports-wagering company's customers to bet on.
Peloton saw its shares rise more than 7% Tuesday. The maker of interactive treadmills and stationary bikes might seem threatened by the reopening of gyms, but investors don't seem to think the trends favoring in-home exercise will reverse anytime soon.
Source Fool.com
