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SMLL - August 2020 Market Commentary: The (U.S.) Market Splits Its Pants
Direxion Daily Small Cap Bull 2X Shares
Data Source: Bloomberg
The (U.S.) Market Splits Its Pants
Source: istockphoto.com
What had appeared to be a calmer market environment earlier in the month turned into an outright frenzy as retail investors bid up large cap technology stocks following stock split announcements from momentum darlings Tesla (TSLA) and Apple (AAPL). The U.S. market, driven by the large cap technology sector, took off in mid-August and never looked back, with the S&P 500 returning 7.2% and the Nasdaq 100 returning 11.2%. Granted, both companies could be benefiting from some expected positive announcements