QQQ ETF Surges to New Highs: Tech-Heavy Fund Defies Market Gravity in November Rally
Wall Street's favorite tech ETF just punched through another resistance level as Nasdaq whales keep feeding.
The QQQ's relentless climb continues—up another 2.3% this week alone—as megacap tech stocks suck all the oxygen out of the market. Because why diversify when you can YOLO into the same seven companies that already dominate the index?
Meanwhile, traditional asset managers are left scrambling to justify their 2-and-20 fees while a simple ETF keeps printing money. The 'smart money' hasn't looked this dumb since they missed Bitcoin at $20K.
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What Moved the QQQ ETF?
The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (), declined 1.86% on Thursday amid concerns about lofty valuations of technology and artificial intelligence (AI) stocks.
In Friday’s pre-market trading, the QQQ ETF was down 0.20%, on continued worries about elevated valuations.
QQQ’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Moderate Buy. The Street’s average price target of $713.70 for the QQQ ETF implies an upside potential of about 17%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Dexcom (DXCM), Atlassian Corporation (TEAM), DoorDash (DASH), and The Trade Desk (TTD).
Meanwhile, its five holdings with the greatest downside potential are Tesla (TSLA), Micron Technology (MU), Applied Materials (AMAT), Warner Bros. Discovery (WBD), and Intel (INTC).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
