Tech Stocks Soared This Week, but Uncertainty Persists
In a week of market volatility, the adtech sector was on fire this week after a down week to start April. The recovery is no surprise, as investors got a bit of good news from the Trump administration -- at least relative to what we knew a week ago.
According to data provided by S&P Global Market Intelligence, shares of AppLovin (NASDAQ: APP) were up as much as 19.9%, Reddit (NYSE: RDDT) jumped 17%, and Spotify (NYSE: SPOT) was up 12.7%. The stocks were up 13.9%, 15.1%, and 8.4%, respectively, for the week on Friday at 3:10 p.m. ET.
The announcement on Wednesday that tariffs on most countries around the world would be delayed by 90 days was met with wild enthusiasm by the market. Stocks shot up across the board, and that included a lot of tech companies and those who benefit from consumer spending and advertising, like AppLovin, Reddit, and Spotify.
Source Fool.com
