Why Meta and Align Are Sending the Nasdaq Soaring Thursday
Wall Street heard exactly what it wanted to hear from the Federal Reserve, and that sparked a new rally in the stock market that looked poised to continue on Thursday morning. After having taken the brunt of the bear market hit in 2022, the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped at the opening bell, up 2.3% as of 9:41 a.m. ET.
A pair of stocks contributed the most to the Nasdaq's rally. Meta Platforms (NASDAQ: META) and Align Technology (NASDAQ: ALGN) reported their latest financial results late Wednesday afternoon, and the companies convinced their shareholders that their respective businesses were on the mend after concerns over the past year. Below, you'll learn more about what Meta and Align had to say to investors and why there's so much optimism about what the future could bring to the two growth stocks.
Shares of Meta Platforms rose 19% on Thursday morning. The stock has now doubled from its lows just three months ago, and the social media giant's fourth-quarter financial results convinced investors that it's back to moving in a more sustainable direction.
Source Fool.com
