The S & P 500 soared to all-time highs this week as investors eagerly snapped up stocks, but some names might be overbought and due for a pullback. The broad market index is on track for a three-week winning streak and is up nearly 1% week to date, while the Nasdaq Composite is heading for a weekly advance of more than 3%. Both indexes hit new intraday highs on Friday. The Dow Jones Industrial Average is the laggard, losing roughly 0.5% this week.
's equity returns this year. bulls believe the ad tier can drive both drive incremental subs and ARPU," Citi Research analyst Jason Bazinet wrote in a Wednesday note. He raised his price target by $195 to $920, which suggests just 0.2% potential upside, however. Other overbought stocks include Palantir , United Airlines and Take-Two Interactive Software . Palantir has been on a tear this year, popping more than 340%.
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Source: FXStreetNews - 🏆 14. / 72 Read more »