These 3 Stocks Tell a Lot About the Nasdaq's Record Run

Investors won't soon forget the massive bear market that hit stocks earlier this year. But the Nasdaq Composite (NASDAQINDEX: ^IXIC) has already put the downturn behind it, with Tuesday's gain of about 0.75% marking another record close for the soaring benchmark. The Nasdaq 100 index also managed to climb further into uncharted territory.

There've been plenty of reasons why Nasdaq stocks have done disproportionately well. Many of the technology companies that have the highest weightings in the Nasdaq indexes have gotten through pandemic-related business closures relatively unscathed, and a sizable number have seen business pick up as their clients try to adapt to fast-changing conditions. What might mark a true recovery, though, is when hard-hit businesses start to see things turn around. That's what investors found today, as online travel portals Booking Holdings (NASDAQ: BKNG), Expedia Group (NASDAQ: EXPE), and TripAdvisor (NASDAQ: TRIP) put up some solid gains.

The immediate catalyst for today's move higher came from TripAdvisor, which got favorable comments from analysts at RBC Capital. The travel review specialist had released an update on its second-quarter financials on Monday that initially spooked investors, especially because the company had far fewer monthly unique users of its platform than last year. For April, user counts were only a third of 2019 levels. In May, that improved slightly, but counts were less than half what they were in May 2019. That had a huge impact on revenue as well, which plunged 90% during April and May compared to year-earlier levels.

Source Fool.com