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Nasdaq Market Update 2024-08-07

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Nasdaq 100 fell -1.2% (-211 pts), closed at 17867 points, a 65-day low.

Among the 150 largest-cap stocks, 116 (77%) closed higher, 95 of them rose with a lower volume. Despite Nasdaq 100 falling -1.2%, 52% of all Nasdaq stocks rose against the index.

In terms of sectors, 10 sectors closed up, 2 sectors closed down, ranging from -0.3% to +1.4%. 6 sectors outperformed the market. The market was up +0.6%; Utilities was up +1.4%, the best performer, reflecting a more conservative market sentiment; Healthcare was down -0.3%, but already the worst performer.

● Fortinet (FTNT) jumped +26.2% (+$14.63), closed at $70.435, an 84-day high, crossed above MA20, MA50 and MA200 ($58.45, $59.16, $61.16). The best performer with a huge increase in volume.
360miq.com/stockinfo?code=FTNT

● Axon Enterprise (AXON) soared +19.3% (+$57), closed at $352, the best % gain in nearly 51 months, also hit a record high, crossed above MA20 and MA50 ($307.67, $297.15). The largest increase in volume.
360miq.com/stockinfo?code=AXON

● Super Micro Computer (SMCI) largely retreated -16.9% (-$104.09), closed at $512.85, the worst % loss in more than 3 months, also a 131-day low. The worst performer with a huge increase in volume.
360miq.com/stockinfo?code=SMCI

● Airbnb Inc (ABNB) largely retreated -14.1% (-$18.44), closed at $112.03, hit a YTD low.
360miq.com/stockinfo?code=ABNB

360miq.com/market?data=NASDAQ#tab-3

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