How is QQQ stock performing? The Invesco QQQ ETF has lost 2.92% over the past five days and is up 15.8% year to date.
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What drives the QQQ ETF?
QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX) fell 3.5% on Friday as U.S. President Donald Trump threatened China to sharply increase import tariffs and accused Beijing of “becoming very hostile” over restrictions on rare earth metals, a vital resource for the technology and defense industries.
However, the QQQ ETF is expected to recover today as Trump assured on Sunday that “everything is going to be fine” in trade relations with China. In fact, as of this writing, the QQQ ETF is up 1.8% in pre-market trading on Monday.
QQQ Key holdings with the highest upside/downside potential
According to TipRanks' unique ETF analyst consensus, which is based on a weighted average of analyst ratings for its Hold, QQQ is a Moderate Buy. Wall Street's average price target for the QQQ ETF is $674.70, implying an upside potential of 14.45%.
Currently, the five stocks with the greatest upside potential for QQQ are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Intuitive Surgical (ISRG).
Meanwhile, the five stocks with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Lam Research (LRCX) and Electronic Arts (EA).
Notably, the QQQ ETF has a Smart Score of 8, which means the ETF is likely to outperform the market.
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