Good afternoon. QQQs - 15bps on quad witching day as internet outperformed for the 2nd straight day with GOOGL, AMZN, NFLX all at or getting close to ATHs. Sw also outperformed led by Garp-y names. A bit of a quick and early one today so everyone can get to enjoying their time at the beach…
Internet:
GOOGL +2% the standout in large cap tech hitting ATHs - didn’t see much news here but investors generally positive heading into the q as 3p continues to say search tracking ahead
ETSY +2.6% as M-sci said modest GMS upside in Q2 driven by int’l o/p
NFLX +1% also hitting new highs getting close to ATHs at $700+
AMZN +50bps getting close to ATHs as well as news they they are mulling 5-10 upcharge for Alexa AI
META - 1.4% the main underperformer in large cap
BILI +6% continues to break out on outperformance of recent game release and on the back of JPM’s upgrade yesterday
CVNA +2.5% as this latest week also looks to be tracking at mid 30s for unit growth
Some outperformance in travel names as 3p co…
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