Amazon Lifts Nasdaq 170+ Points on Earnings Hopes; Nikola Plunges as Warrants Bring Dilution

The new week got off to a mixed start on Wall Street, but investors in the Nasdaq Composite (NASDAQINDEX: ^IXIC) were celebrating. Both it and the Nasdaq-100 index benefited from a big bounce in technology stocks, rising between 1.5% and 2% as of 1 p.m. EDT.

Amazon (NASDAQ: AMZN) has been a market leader lately, and the e-commerce and cloud computing giant added to its supremacy by getting a big boost from Wall Street analysts. Meanwhile, the news for electric-truck maker Nikola (NASDAQ: NKLA) wasn't as good, as investors faced the sudden dilution resulting from some outstanding securities convertible into Nikola shares.

Amazon stock was up 6% Monday afternoon on newfound optimism for the company, which reports its latest earnings results later this week. The one-time bookseller has seen its market capitalization soar past the $1.5 trillion mark, and at least one analyst sees room for further gains.

Source Fool.com