With the main market continuing to climb higher, it is no surprise to see both old..and new momentum (momo) stocks join the party. AMZN and TWTR closed significantly higher by 3% and 5% respectively, and the near term outlook remains bullish.
Suffice to say, at least the market is consistent in some twisted ways. Neither AMZN or TWTR are currently turning a profit, but hey.. since when did that matter in the 'new economy'?
TWTR is still in very early days as a stock of course, but it is so far managing to stabilise after an initial..(and notably brief) break <$40.
I would be somewhat surprised if TWTR can manage to break above $50 by year end, but then...these crazy tech IPO stocks are hard to guess.
*the momo stocks..in my view are for entertainment viewing only. I leave them well alone! However, they are a good reminder of just how crazy this market remains.