Why Tech Stocks Continue to See Momentum in April 2021
In April, tech penny stocks are seeing a great deal of momentum. Last week, shares of several FAANG stocks hit fresh, record highs. With declining bond yields and investors focusing on growth stocks, the majority of the major tech stocks are seeing large bullish sentiment.
Before finding penny stocks to watch, investors can identify larger macroeconomic trends. One of the ways we can identify these trends is through the movement of the tech-heavy NASDAQ composite index. Year to date, the NASDAQ has pushed up by more than 9% as of April 12th. One of the more obvious reasons for this trend is the impact of the pandemic. Throughout the past year or so, both product and service tech stocks have benefited greatly from the trend of work-from-home.Â