The QQQ Was Hammered Again Today. Here's Why.

May 12, 2021 4:37 pm
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The QQQ Was Hammered Again Today. Here's Why.

U.S. indices were trading lower across the board Wednesday after CPI data showed an increase in U.S. inflation, which has weighed on stocks.

  • The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) fell sharply by 2.59% to $316.89.
  • The SPDR S&P 500 ETF Trust (NASDAQ: SPY) closed lower by 2.12% at $405.41.
  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) also fell by 2.02% at $336.

Here are the day's winners and losers from the QQQ, according to data from Benzinga Pro.

Top gainers for the Nasdaq were Incyte Corporation (NASDAQ:INCY)Intuit Inc. (NASDAQ:INTU) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN).

Intuit shares were trading higher after the company reported it expects to exceed FY21 guidance.

Tesla Inc (NASDAQ:TSLA), Applied Materials, Inc. (NASDAQ:AMAT) and Lam Research Corporation (NASDAQ:LRCX) were among the biggest laggards for the Nasdaq Wednesday.

Tesla shares were trading lower as inflation concerns continue to pressure growth stocks.

Elsewhere On The Street

  • In this week’s installment of Stock Wars, we take a look at two titans that dominate the entertainment industry: Walt Disney Co. (NYSE: DIS) and Comcast Corporation (NASDAQ: CMCSA) … Read More
  • “Dog meme tokens” have captured the attention of crypto market participants — most recently Shiba Inu token (SHIB) took the spotlight after gaining 1,479% in seven days. What's even more impressive is the token’s overall returns to early holders who purchased SHIB in October 2020 … Read More
  • FuboTV Inc (NASDAQ:FUBO) shares were rallying Wednesday in the wake of the streaming platform's first-quarter report. Here's what the sell side has to say … Read More

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