Why Snowflake, Shopify, and Palantir Rocketed Higher This Week
Shares of Snowflake (NYSE: SNOW), Shopify (NYSE: SHOP), and Palantir (NYSE: PLTR) each surged this week, with shares climbing 19.9%, 14.8%, and 14.8%, respectively, by the end of trading on Thursday.
The increase was the result of two things. First, long-term bond yields fell this week, along with commodity prices. These indicators suggest an economic slowing or even a recession, which could mean red-hot inflation could be on the brink of cooling down. An economic slowing is actually somewhat bullish for high-growth stocks like these three since a lower long-term discount rate would benefit stocks with earnings well out into the future.
While lower bond yields helped most growth stocks this week, each of these three companies also received bullish analyst notes, further turbo-charging their share prices.
Source Fool.com
