This Cloud Computing Trend Could Send the Nasdaq Soaring

The stock market got off to a quiet start to the new month on Tuesday, with investors sluggishly coming back to work after the Memorial Day holiday. As of 12:30 p.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) had not only given up its gains from earlier in the session but was actually down about a tenth of a percent.

Cloud computing has been an extremely strong industry within the red-hot tech sector over the past year, and many investors have tried to find ways to take advantage of the trend toward digital transformation among major companies. Over the weekend, some institutional investors took matters into their own hands by making a deal to take a cloud computing specialist private, and that has some market participants looking at the cloud space as ripe for further consolidation and dealmaking.

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Source Fool.com