Was Today the Biggest Online Shopping Day in History?

Tech stocks are up big today, and it’s not hard to see why.


3 min read

Opinions expressed by Entrepreneur contributors are their own.


Cyber Monday put a jolt in the stock market today.

Data from Adobe Analytics suggest that America may have had its biggest online shopping day in history, as consumers flocked to take advantage of online deals today.

The equity markets liked the action. With Amazon and technology stocks leading the way, the Entrepreneur Index™ was up 2.25 percent for the day, with 56 of 60 stocks on the index posting gains. The Nasdaq composite index was up 2.06 percent, while the Dow and S&P 500 indexes were up 1.46 percent and 1.55 percent respectively.

Technology stocks, the hardest hit segment of the market in the last two volatile months, posted some of the largest gains on the day. Amazon.com, the biggest online retailer in the world, was up 5.28 percent. Twitter was also up 5.43 percent. None of the 13 tech stocks on the Entrepreneur Index™ were down today.

The biggest gain in the sector was posted by chipmaker NVIDIA Inc., possibly the most volatile stock in the market this year. It was up 5.52 percent after a Credit Suisse analyst initiated coverage with an outperform rating, suggesting that the nearly 50 percent drop in the stock price

over the last two months has created a great buying opportunity for investors.

Related: Tech Stocks Continue to Tumble, With Precious Few Exceptions

Wynn Resorts, another extremely volatile stock this year, was up 6.89 percent today — the biggest gain on the Entrepreneur Index™. The gambling environment in Macau, where Wynn operates three casinos, was once again the reason for the move in the stock price. Brokerage firm Sanford Bernstein increased its forecast for November gambling revenue in Macau to seven percent to eight percent from an earlier estimate of two percent to four percent. Wynn’s shares are still down 34 percent for the year.

Tesla shares were up 6.19 percent today after another unusual interview with CEO Elon Musk aired on HBO yesterday. Musk said that earlier this year Tesla was only weeks away from death due to the rocky production ramp-up of the company’s Model three sedan. He also said he plans to take a trip to Mars when the opportunity presents in the future.

L Brands, makers of Victoria’s Secret lingerie, appeared to be a big winner in the early holiday shopping season. The stock was up 6.74 percent today, though it is still down 47 percent so far this year.

Other major gains on the Entrepreneur Index™ were posted by TripAdvisor Inc. (4.36 percent), Regeneron Pharmaceuticals (3.61 percent), Jefferies Financial Group (3.61 percent) and Under Armour Inc. (3.35 percent).

Only six stocks on the index had declines today. The largest was registered by food-maker J.M Smucker Company, which was down 1.54 percent. Chipotle Mexican Grill was down 1.15 percent, and oil and gas producer Hess Corp. was down 1.03 percent, despite a more than two percent rally in the price of oil today.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Source link

more recommended stories

  • How to Build Philanthropy Into Your Budget — Even If You’re Not Google

    Big-name companies like Google are doubling.

  • 10 Questions to Ask Before Committing to a Business Partner

    If you can get someone to.

  • Model 3 Gets Bad Report Card, Leading to Drop for Tesla Stock

    Plus, more signs of a sputtering.

  • 4 Ways to Successfully Turn Your Day Job into a #SideHustle That Earns You #PassiveIncome from #ThePowerofPassiveIncome

    Find out which key moves you.

  • J.M. Smucker Is Up, But Rest of Stock Market Soft After Minutes of Last Fed Meeting Released

    The stock market wasn’t sure what.

  • The 10 Most Reliable Ways to Fund a Startup

    Every funding decision is a complex.

  • The Most Important Career Lessons Are the Ones You Learn From Your Mistakes

    Instead of being embarrassed by your.

  • 7 Steps to a Perfectly Written Business Plan

    February 20, 2019 7 min read.

  • Must-Reads for List-Makers, Disrupters, and Social Entrepreneurs

    Inspired by our own personal goals.

  • 3 Fast Ways To Get Good Press

    Whether you’re a publicist or a.

  • 9 Questions to Ask Candidates’ References

    February 18, 2019 5 min read.

  • Are Your Goals Too Small? Here’s How to Know.

    See your life transform by setting.

  • 5 Partnership Lessons From Bill Belichick and Tom Brady

    Neither would be wearing so many.

  • Learning From Kevin Hart’s Social Media Mistakes

    He lost his gig at the.

  • Breaking Through on the PGA Tour After 187 Tries

    PGA Tour player Ken Duke shares.

  • Learn How to Practice Mindfulness at Work for Less Than $40

    Make the ancient, stress-relieving discipline more.

  • Why Your Next Startup Should Focus on Healthcare

    Breakdowns exist in the healthcare system,.

  • Market Up as Government Shutdown Averted, but FAANG Stocks Still Down

    The government shutdown drama is over.

  • 9 Business Ideas Under $1,000 You Can Run From Anywhere

    February 15, 2019 11 min read.

  • How to Make Your Wealth Last for Generations

    Hone your financial literacy and sustain.

  • Bed Bath & Beyond (Up 49 Percent This Year) Continues to Rise, but the Market Falls Flat

    Stocks were not feeling the love.

  • This Startup Raised $30 Million. Now, Its Founder Is Accused of Fraud.

    This promising Mexican startup closed its.

  • Corporate America Needs Understand These 4 Keys to Working With Millennials

    Millennials have a bad reputation that.

  • Government Shutdown and Trade Talks Still in Limbo but Market Up Slightly

    The stock market didn’t seem overly.

  • Jack Dorsey Picks Elon Musk as ‘Most Exciting’ User, Amazon Buys Eero and Prices Spike at Whole Foods (60-Second Video)

    Here are three things entrepreneurs should.

  • This CEO Says That Second-Guessing Your Business Is Natural

    The big decision for this Canadian.

  • The Government Shutdown Wasn’t So Bad for the Stock Market — But Avoiding a Shutdown Would Be Even Better

    The Entrepreneur Index™ was up big.

  • Mars Trip Could Cost You Less Than $500K or Even $100K

    The prices would be ‘low enough.

  • Chipotle Shoots for the Stars, Hires Oscar Winner to Produce Ad

    The burrito chain the had biggest.

  • Could These Companies Be the Next $1 Billion Unicorns?

    A new study looks ahead at.

  • Stop Hitting the Snooze Button and Start Intentionally Building Your Life and Business

    Don’t beat yourself up for hitting.

  • Get Exclusive Access to Silicon Valley Trailblazers for Less Than $10

    The CEOs of Redfin, Nextdoor, SurveyMonkey,.