TGIF, Rippers fam! Welcome back to Bullish Rippers 🔥
These last few weeks have been punishing for stocks, but thankfully upward momentum in trading on Friday helped us finish in the green. Let’s take a closer look at why:
🖥 Big index funds are long on big tech companies like $MSFT and $AAPL — so when they started to fall, the index funds did too. In fact, almost a fourth of the S&P 500 and NASDAQ Composite are wrapped up in the five biggest tech stocks on U.S markets: Alphabet (which owns Google), Apple, Microsoft, Amazon, and Facebook. If you’re wrapped up in ETFs or passive investments that track these investments, take a look at what you own and what’s in the funds. Double-dipping is okay, but you might not have a clue that you’re doing it.
Big tech aside, let’s jump into what’s moving against the grain and check in with our Friday Rippers:
🌱 Renewable energy companies dominated Rippers today. Sunrun, Vivint Solar, JinkoSolar, and Brookfield Renewable Partners are all on today’s list, and they’re there because investors are starting to see green — figuratively and literally! Renewable is starting to take a bite out of the energy market and investors are starting to see the value in these stocks. $RUN , $VSLR , $BEP , and $JKS are all up more than 7% today.
🎰 In a post-COVID world, America might finally embrace the idea of legal online gambling. Scientific Games, which provides tech and products to various outlets, is up 8% today. $SGMS has gone on a considerable run this year, largely fueled by sportsbooks and casinos spending to build their digital gambling presence.
That’s a wrap on our Rippers for this week. Check back on Monday to see what’s making moves! 📈📈📈