Dow Jones Futures: Look at these 5 IPOs; Did you fall asleep at Tesla's warehouse?
Dow Jones futures edged lower late Monday, along with S&P 500 futures and Nasdaq futures. Tesla (TSLA) spied their self-image progress on Monday, but a declining Tesla stock made it possible to put on autopilot. Meanwhile, while the Lyft share flopped after a highly hyped original public offering, a number of recent IPO shares are worth looking at. They include tech unicorns Pinterest stock and Zoom stock, but also Tradeweb stock, Jumia stock and PagerDuty stock.
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To be clear, none of these IPOs have yet another short IPO base. They should not be bought right now. But these five IPOs have worked well so far. Pinterest (PINS), Zoom Video Communication (ZM), Trading Web Markets (TW), Jumia Technologies (JMIA) and PagerDuty PD) are growing fast fast. Zoom stock and Tradeweb stock are actually profitable.
Lifting bearing could also set up eventually. However, it is preferable for an IPO base or other consolidation to form after a modest action. The lifting stock has fallen well below the 72 offer price.
Dow Jones Futures Today
Dow Jones futures fell 0.15% vs fair value. S & P 500 futures dropped 0.1%. Nasdaq 100 futures were slightly below fair value. Keep in mind that takeover in Dow futures and elsewhere may not necessarily be translated into actual trading in the next ordinary stock market session.
Current Stock Market Collection
The current stock market rally continued to fluctuate near record highs. Dow Jones declined by 0.2%, S & P 500 index rose 0.1% and Nasdaq composite 0.2%.
Growth stock used to surpass. Among the best ETFs, Innovator IBD 50 (FFTY) has advanced 0.5% on Monday. IShares expanded Tech Software Sector ETF (IGV) recovered 1% after losing 1.6% last week. VanEck Vectors Semiconductor ETF (SMH) died 0.1%, but having spiked 3.3% last week.
Tesla Autonomy Day
Tesla Autonomy Day was a chance for CEO Elon Musk to utilize Tesla's autonomous driving capabilities. Musk said that a new piece and other hardware is capable of full self-propagation when the software improves. He also said lidar is "lame" even though almost all other self-propelled efforts use the laser-based sensors extensively. Musk also suggested that a Tesla robot taxi service could begin next year.
The Tesla Autonomy Day event started late afternoon and continued after the stock market closed.
Tesla Stock
The Tesla stock fell 3.85% to 262.75 Monday, with the Autonomy Day event having little influence. Investors can look forward to the Tesla performance report on Wednesday, with forecasts for losses.
Tesla stocks actually make the case of investing on autopilot.
The relative strength that traces a stock against the S&P 500 index hit a half month on a daily map. But on a weekly chart, the RS line is at its lowest level since the end of 2016, and almost at five years low.
Since a truly impressive collection in 2013, the Tesla share has not been able to keep up with the S&P 500 index. In September 2013, investors had been better off selling Tesla shares and buying an S&P 500 index fund or ETF.
Of course, an active investor could have found dozens or hundreds of quality stocks in recent years that surpassed the S&P 500 index for long stretches. But do not invest in speculative stocks if you are going to fall asleep at the wheel.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more. ]
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