Wednesday May 20, 2020:
Facebook and Amazon did the Heavy Lifting Today
The S&P 500 closed at its highest since early March, led by Amazon (AMZN: US) and Facebook (FB: US), both of which saw new all-time highs today. FB closed at $229.97, while AMZN ended at $2497.95 before reaching $2500 in after hours trading.
More Bad Luckin For Coffee Company
Trading on Luckin Coffee (LK: US) restarted today after being shut down last month amidst revelations of inflated bookkeeping. The company, which reported that it was facing delisting by Nasdaq, saw a massive sell-off throughout the day as investors headed for clearer waters, ending the day down 35.76% at $2.82. The company's IPO price when it went public last May was $17.00.
Earnings before open tomorrow, May 21, 2020: