Why Tesla and Cloudflare Soared to All-Time Highs Monday
The stock market has done quite well recently, gaining momentum after a brief scare in September related to rising inflationary pressures and worries about the COVID-19 delta variant. Investors seem a lot more comfortable that the U.S. economy is strong enough to overcome headwinds and sustain its long-term growth trends. As of 1:30 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 89 points to 35,766, setting an all-time high. The S&P 500 (SNPINDEX: ^GSPC) rose 24 points to 4,569, also on pace for a record close, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 136 points to 15,226.
Behind the market's performance have been extraordinary performances from some high-profile stocks. On Monday, shares of Tesla (NASDAQ: TSLA) and Cloudflare (NYSE: NET) reached levels they've never seen before, and many investors believe that there could be even further gains from the two innovative companies in the months to come. Below, we'll take a closer look at what's driving these two stocks higher on Monday.
Image source: Tesla.
Source Fool.com
