Why Starbucks Disappointed While Okta Led the Nasdaq Higher
It's taken a while, but the stock market appeared to be getting back into the groove of things on Monday. In particular, after having suffered a bear-market decline of more than 20% earlier in the year, the Nasdaq Composite (NASDAQINDEX: ^IXIC) has bounced back sharply. As of 2:15 p.m. ET, the Nasdaq was up another 1.5%, erasing half of its losses since last November and giving investors more confidence for the future.
Within the Nasdaq, though, there were some mixed moves. Starbucks (NASDAQ: SBUX) made a sudden about-face that could be good for employees and its business but will nevertheless take away from the short-term prospects for the stock price. Meanwhile, Okta (NASDAQ: OKTA) managed to soar even with Wall Street analysts posing some difficult questions for the identity verification software platform provider. Read on to learn more about both companies.
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Source Fool.com
