Top Gainers: Netflix, Moderna among the biggest Nasdaq performers

Volatility may continue to be there in the markets until a clear signal of inflation being under control emerges.

Netflix, Moderna, stock prices, Top Gainers, Nasdaq, returns
The bear market rallies may still be witnessed and long term investors may continue picking quality stocks at lower or reasonable valuations.

On the day when the US Fed hiked the rates by 0.75 per cent, a rally in US stock prices was witnessed. Nasdaq closed the day’s session on June 15 up by 2.5 per cent and the top 5 gainers on Nasdaq generated returns between 5 per cent and 9 per cent. Netflix and Moderna were among the biggest outperformers on a strong trading day.

NASDAQ Composite Index closed at 11,099.15, up by 270.81, nearly 2.50% higher than previous close.

On the day when the Federal Reserve went for the biggest rate hike of 0.75 per cent, in almost three decades to curb rampant inflation, Nasdaq finds itself in bear market territory. Nasdaq on June 15, 200 is down by 29.06 per cent YTD and almost 22 per cent lower over the 1-year levels.

Top 5 Gainers on Nasdaq

MercadoLibre Inc.( MELI) gained 9.13 per cent – The stock is still down by almost 50 per cent YTD (year-to-date)

Netflix Inc.( NFLX) gained 7.5 per cent – The stock is still down by almost 70 per cent YTD

Atlassian Corp. PLC ( TEAM) gained 7.14 per cent – The stock is still down by almost 50 per cent YTD

Constellation Energy Corp. (CEG) gained 6.91 per cent – The stock is up by almost 14 per cent over last 3 months

Moderna Inc.( MRNA) gained 5.73 per cent – The stock is still down by almost 50 per cent YTD

( As on June 15, 2022 closing prices)

Volatility may continue to be there in the markets until a clear signal of inflation being under control emerges. While the economy may struggle to avoid a recession in a rising interest rate scenario, investors may tread cautiously in the weeks and months ahead. The bear market rallies may still be witnessed and long term investors may continue picking quality stocks at lower or reasonable valuations.

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