In another market for technology stocks, software companies have seen their values reach new heights today.
The days of trading come after a liquidation last week, which dampened the rebound of some tech companies from their lowest COVID-19; stocks of technology companies more than offset their declines at the start of the year in mid-2020, with the Nasdaq reaching 10,000 points before losing ground.
Today, the Nasdaq Composite index rose 0.15% to 9,910.53 points, just a few peaks from its all-time high. A thematic technology index focused on fintech has also seen its values return to a level lower than previous peaks. The S&P 500 lost 0.36% to close at $ 3,113.41 and the Dow Jones Industrial Average fell 0.65% to $ 26,119.13.
But software publishers, the top tech thieves, have set new records, as measured by the Bessemer cloud index. According to the Financial Times, the software and cloud tracking index has gained more than 45% in the past year, a sharp increase in a year of economic uncertainty and occasional stock market carnage.
Looking more broadly, technology stocks with a little more flavor of value - GAAP profitability, regular dividends, etc. - behaved well with Apple also setting new records. The smartphone and service store giant is worth more than $ 1.5 trillion, which shows how attractive stable technology proved to be in 2020. On the same theme, Microsoft is just a few points from the top of all time and is worth about 1.48 trillion dollars.
But while software growth has proven to be attractive, as has the stability of megacorp tech stores, less certain bets have also proven attractive. Nikola, an electric vehicle company that was recently floated on the stock market is still worth around $ 26 billion despite the lack of declared income. On a similar theme, Tesla stocks have grown from around $ 225 a year ago to over $ 993 today, a gain of about 340%. In Q1 2020, the company recorded growth of 38% year over year.
$ 420 per share, a long time ago.
Speaking of transportation, Uber and Lyft made separate announcements on Wednesday that should have started the investor pump. Instead, the stocks of the two companies went from stable to slightly bearish throughout the day.
Uber announced Wednesday that it will operate an on-demand service for Marin County in the San Francisco Bay Area, marking the wider spread of Software as a Service and public transit.
The Transportation Authority of Marin (TAM) will pay Uber a subscription fee to use its management software to facilitate the request, matching and tracking of its fleet of heavy vehicles, starting with a service that works along the Highway 101 corridor. Marin Transit routes will appear in the Uber app and allow users to book and even share routes.
This fundamental news should have pleased investors. Today, they responded with a resounding "meh", even if it is the first steps towards generating a new source of income.
Uber shares closed down 0.60% to $ 33.29.
Meanwhile, his rival Lyft promised Wednesday that all cars, trucks and SUVs on its platform will all be electric or powered by other zero-emission technology by 2030, a commitment that will force the company to encourage drivers to move away from vehicles to essence.
The objective, which Lyft plans to pursue with the help of the Environmental Defense Fund, will extend to several programs. It will include the company's autonomous vehicles, the Express Drive car rental partner program for carpool drivers, consumer rental cars for drivers and the personal cars that drivers use on the Lyft app.
Perhaps investors understand that even with a ten-year term, the goal may be difficult to achieve.
Lyft shares closed at $ 35.32, down 3.79%
ClearTipsNews slowed its coverage of public markets as technology stocks returned to a more stable period; that they have regained lost ground is worth noting, but lower volatility has reduced the market value of the media. Yet every once in a while when new heights are reached, it's worth putting our toes back in the water. And on days when different blocks of public technology set records, we can't help but make a public note.
Tech and Tech-ish stocks: always in fashion.
