July 5, 2020
AliExpress WW
Software shares set new records as tech rallies – TechCrunch

Software shares set new records as tech rallies – TechCrunch

AliExpress WW

Once again, for technological stocks, the development companies saw that their values ​​reached new heights today.

AliExpress WW

Trading days began after a sell-off last week weakened some tech companies’ rebound from their COVID-19 lows; shares in technology companies more than offset the decline at the beginning of the year in mid-2020, with Nasdaq reaches 10,000 points before giving up.

Today, the Nasdaq Composite Index rose 0.15% to 9,910.53 points, just a few points below its all-time high. fintech thematic technical index they also saw that their values ​​returned to a level below previous highs. The S & P 500 fell 0.36% to close at $ 3,113.4, while the Dow Jones Industrial Average fell 0.65% to $ 26,119.13.

But software company leaders in technology have set new records as measured by the Bessemer cloud index. According to at the financial timesThe software tracking and cloud computing index has increased by more than 45% over the last year, which is a sharp increase during the year of economic uncertainty and periodic stock market massacre.

More broadly, technical stocks with slightly more value — GAAP profitability, regular dividends, etc. — performed well when Apple set new record highs. The cost of the smartphone and services store is more than $ 1.5 trillion, which confirms the attractiveness of stable technologies in 2020. On the same topic, Microsoft is a few steps from record highs and costs about 1.48 trillion dollars.

But while the growth of software turned out to be attractive, as did the stability of Megacorp’s tech stores, less defined rates also turned out to be attractive. Nicola, The electric car company, which recently went public in a debut debut, is still worth around $ 26 billion, despite not receiving revenue. On a similar topic, tesla Shares have risen from about $ 225 a year to more than $ 993 today, representing about 340%. In the first quarter of 2020, the company posted 38% year on year growth,

420 dollars per share feels a long time.

Speaking of transport, Uber On Wednesday, Lyft had separate announcements that were supposed to launch a pump for investors. Instead, the stocks of both companies plummeted during the day.

On Wednesday, Uber announced that it will operate an on-demand service for the Marin County in the San Francisco Bay area, noting Software-as-a-Service more widespread and public transportation.

Marina Transport Authority (TAM) will pay Uber a subscription fee for using its management software to simplify the request, mapping and tracking of its fleet of high-capacity vehicles, starting with a service that runs along Highway 101 corridor. Marin Transit trips will appear in the app Uber and allow users to book trips and even share them.

This fundamental news should have liked investors. Today they answered with a loud “me”, although this represents the first steps in creating a new revenue stream.

Uber shares closed at 0.60% to $ 33.29.

Meanwhile, the rival Lyft On Wednesday, he promised that by 2030 all cars, trucks and SUVs on his platform would be fully electric or equipped with other technology with zero emissions. This obligation will require the company to persuade drivers to abandon gas-powered cars.

The goal that Lyft plans to meet with the Environmental Protection Fund will cover several programs. It will include the company’s autonomous vehicles, the Express Drive car rental partner program for drivers who drive promotions, consumer cars for drivers, and personal cars that drivers use in the Lyft app.

Perhaps investors understand that even with a ten-year period of achieving the goal, it can be difficult to achieve.

Lyft shares closed at $ 35.32, down 3.79%

TechCrunch slowed its coverage on the public market as technology stocks returned to a more stable period; It is worth noting that they regained their lost positions, but lower volatility reduced the value of the market. Nevertheless, from time to time, when new historical highs are reached, it is worth returning your fingers back to the water. And in the days when different blocks of public technologies set records, we cannot but make public comments.

Technology and technology stocks: still in fashion.

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