Zoom Weighs on Nasdaq as Growth Slows; SoFi Keeps Flying
Investors have been somewhat downbeat on the Nasdaq Composite (NASDAQINDEX: ^IXIC) lately, seemingly preferring stocks outside the tech-heavy index after huge runs higher for many of the Nasdaq's biggest companies. That continued to be the case on Wednesday morning, as the Nasdaq lagged behind other major benchmarks with gains of just 0.2% as of 11:30 a.m. EDT.
Investors always want to hear how top companies are doing on the earnings front, and many were looking forward to the latest news from Zoom Video Communications (NASDAQ: ZM) regarding how it has done as the pandemic in the U.S. starts to ease in intensity. Meanwhile, the long-awaited merger that brought SoFi Technologies (NASDAQ: SOFI) public has gone through, and the stock has gotten a nice boost in the couple of days since it became available to those who didn't want to buy pre-merger shares of the special purpose acquisition company (SPAC) with which it combined.
Shares of Zoom Video Communications were down a fraction of a percent on Wednesday morning. The move came amid what seemed on its face to be an upbeat report from the video conferencing specialist about how it has done over the past few months.
Source Fool.com
