The Nasdaq Composite (NASDAQINDEX: ^IXIC) has had an amazing run in 2020, recovering sharply from the February and March plunge and mounting a true V-shaped recovery. Yet skeptics never seem convinced that the Nasdaq can hold onto its gains, especially because of some of the high-priced tech stocks that have led its charge higher. Those skeptics continued to fight, as shortly before 10 a.m. EDT, the Nasdaq had given up early gains and was trading flat.
Even in a momentum-driven market, earnings still matter. Adobe (NASDAQ: ADBE) saw its stock fall back from all-time highs after releasing its most recent financial results. But elsewhere, investors got an explosive gain from AMC Networks (NASDAQ: AMCX), as the entertainment company released some major positive news.
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