These 2 IPO Stocks Are Rocketing Higher on a Tough Stock Market Day
The stock market kept investors on edge Friday, although the tone was more mixed than down by the late morning. After being smacked down hard, the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to bounce back somewhat from its recent losses. However, other major market benchmarks were flat to lower on the day, and investors seem nervous about crosscurrents in the economy that are calling into question central banks' ability to manage monetary policy effectively. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 340 points to 31,062. The S&P 500 (SNPINDEX: ^GSPC) eased lower by 2 points to 3,828, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 137 points to 13,256.
It's been a great season for IPOs, especially given the big run higher for the stock market over the past year. Some newly public stocks have seen big reversals as the market started getting choppier. But today, both Rocket Companies (NYSE: RKT) and Airbnb (NASDAQ: ABNB) shot upward on positive news about their respective businesses and their prospects.
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Source Fool.com
