Episode 16: Market Whiplash
Hi Friends. Thank you for tuning into another episode of Pandocap. We continued this week with a lot of volatility in the markets.
The week started off strongly, with Nasdaq reaching levels over 10k and Tesla breaking through the $1,000 mark on their stock price, but that quickly changed yesterday. After the Fed gave a speech on Wednesday, the take-away by most was one of caution as we go into the rest of 2020. With a spike in Coronavirus cases and the lack of company earnings guidance, investors took a pause and the Dow dropped over 1,800 points. Today we end the day slightly up but with the Trump Administration’s stance on another shutdown being no-go,I think this will drive a W shaped recovery.
Moving on to the Markets
Dow up 477 points ending at 25,605
S&P up 39 points ending at 3,041
Nasdaq up 96 points ending at 9,588
IPO
After months of no tech IPOs, it seems that Big Tech is coming to the table. We are seeing a breakout from the sidelines, and companies like Snowflake and Palantir are starting their confidential IPO filing. We will see how they perform, but what we have learned from last year’s market is if profitability is an issue public markets will shy away.
Final Thoughts
I am really excited for our interview on Monday where we will discuss racial equity in corporate America, featuring The Ambassadors Circle and the Vote with Love initiative. Get ready to Vote With Love! Vota Con Amor! Thank You.
La semana comenzó con fuerza, con Nasdaq alcanzando niveles superiores a 10k y Tesla rompiendo la marca de $1,000 en el precio de sus acciones, pero eso cambió rápidamente ayer. Después de que la Fed pronunció un discurso el miércoles, y los inversores tomaron las noticas más o menos. Con un aumento en los casos de Coronavirus y la falta de orientación sobre las ganancias de la compañía, los inversores hicieron una pausa y el Dow cayó más de 1,800 puntos. Hoy terminamos el día arriba un poco, pero con la postura de la administración Trump sobre no cierra otra vez, creo que esto impulsará una recuperación en forma de W.
Gracias.