Nasdaq Record-Bound Again Despite Peloton Drop; Magnite Jumps
Record performances for the Nasdaq Composite (NASDAQINDEX: ^IXIC) have become commonplace, and Friday brought another push into uncharted territory for the stock market benchmark. As of 12:30 p.m. EST, the Nasdaq was up about half a percent, adding to the all-time high that the index set at the close on Thursday.
Helping to lift the Nasdaq was Magnite (NASDAQ: MGNI), which announced a strategic move to bolster its grip on the programmatic advertising marketing. However, Peloton Interactive (NASDAQ: PTON) failed to impress shareholders in its much-watched earnings report, sending shares of the interactive fitness equipment maker lower despite the growth stock having seen big gains recently.
Shares of Peloton Interactive fell almost 8% early Friday afternoon. The maker of stationary bikes and treadmills has had huge demand, but it hasn't been able to execute well enough to take full advantage of it.
Source Fool.com
