The accelerating shift to digital services and online presence in the wake of the pandemic has driven the technology focused Nasdaq Composite to a new record high.
Closing up on Monday by a little over 1%, Nasdaq ended the day at 9,924.74 – setting an all-time high.
Remarkably, today’s record high was achieved from one of the Nasdaq’s lowest readings in years just a matter of months ago – in March, it fell to as low as a slightly under 6,900! This was one of its lowest points in recent years.
But as the world began to realise the increasing need for digital services, it looks like the accelerator has been pushed on technology-focused stocks.
Heavyweight stocks such as Microsoft and Alphabet (Google) have tended to far better than their less well-known peers, with the likes of Amazon also achieving all-time highs.