Interesting pre-market action today. A few minutes before the market opens:
AYX: +5.69% CRWD: +3.77% DDOG: +4.93% ESTC: +5.49% FSLY: +4.88% MDB: +4.18% NET: +3.20% OKTA: +4.53% ROKU: +3.25% SQ: +7.75% TTD: +5.99% TWLO: +0.00% TDOC: -3.27% WORK: -1.94% ZM: -11.85% Dow: +3.96% S&P 500: +3.94% Nasdaq: +0.44%
I suspect this is on news that COVID-19 cases seem to be getting better in Italy, and social distancing in the US seems to be working. The COVID-19 stocks (TDOC, WORK, ZM) are all down, especially ZM.
Personally, I still think that there’s a lot of bad news ahead – this disease will end up being endemic.
I will be adding HEAVILY to ZM (already my largest position), and a little bit to TDOC.