NEWR - These 2 Stocks Are Rising From the Ashes
Wall Street braced for a modest decline Wednesday morning, with stock index futures suggesting a likely drop of up to half a percent for major benchmarks. Investors are still uncertain about the macroeconomic environment and its likely impact on capital markets, and it'll take a while for things to play out and bring more clarity.
In the meantime, individual companies are giving their latest financial results, and a pair of stocks in particular got a nice boost Wednesday morning. Both Uber Technologies (NYSE: UBER) and New Relic (NYSE: NEWR) have been under pressure for a long time, and their share prices are far below their best historical levels. Yet both stocks moved higher after they released encouraging quarterly reports. Read on to learn the details and see whether Uber and New Relic could keep rising from here.
Shares of Uber Technologies were up 8% in premarket trading just before the open. The ride-sharing company is finally starting to see demand pick up after years of disruptions from the COVID-19 pandemic.
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These 2 Stocks Are Rising From the Ashes