No. of Recommendations: 11
...20% in 6 weeks?
One interesting thing is that the gain is spread around the growth/tech zone, it's not just the usual suspects of a few giants.
The Nasdaq 100 equal weight index and ETF (QQQE) are up 18.73% since March 30 (5-6 weeks), so that's in effect the average return among all 100 constituents. Though not really that rare, it's a big number.
Does that size of move make sense?
It's absolutely certain that the average value of those firms has not risen that much in such a short time frame. So either they were (on average) at least 15.6% undervalued around the end of March, or they're (on average) overvalued now.
Jim
