Market Recap – November 8th
The stock market continued to rally with the S&P 500 up 0.56%, the Dow Jones up 1.02%, and the NASDAQ up 0.49%. It was the final day before the midterm elections, an event the market has been pricing in for the past week, and the results can either keep the market stable or send it into a frenzy. Despite Uber having a great quarter, Lyft saw themselves down 22.91% to $10.90 following an earnings report where they saw a decline in rider volume and slowed growth, leading to an analyst downgrade. Robinhood went down too, closing the day down 19.04% to $9.74 following news that Binance is moving to acquire cryptocurrency firm FTX.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.