Why The Trade Desk, Duolingo, and Fastly Are Soaring This Week
Growth stocks have enjoyed strong bullish momentum over the last week, and The Trade Desk (NASDAQ: TTD), Duolingo (NASDAQ: DUOL), and Fastly (NYSE: FSLY) are participating in the rally. The companies' respective share prices were up 14.8%, 13.8%, and 14.8% from last week's market close prior to the market opening this Friday, according to data from S&P Global Market Intelligence.
The stocks are primarily gaining ground thanks to lower-than-expected inflation data. If inflation continues to cool off, the Federal Reserve may be able to take a light touch on interest rate hikes, which would be a welcome development for companies with growth-dependent valuations.
In business-specific terms, there hasn't been much news for The Trade Desk, Duolingo, and Fastly over the last week. There hasn't been much in the way of market-shaping coverage from analysts either.
Source Fool.com
