|Day's range||8.90 - 8.90|
The stock market has shown remarkable resilience so far this year despite the odds of a recession and the recent banking turmoil in the U.S., which is evident from the S&P 500 index's 4% gains in 2023. It is worth noting that the S&P 500 has a history of bouncing back strongly following a bear market. The index has averaged a 38% return in the 12 months after hitting lows during a bear market.
I'm willing to bet that most investors wish they'd bought shares of then-obscure digital advertising technology company The Trade Desk (NASDAQ: TTD) when it went public in 2016. It closed its first day of trading around $3 per share (adjusted for its stock split), meaning a $10,000 investment then would be worth $200,000 today.
Growth investors have experienced significant volatility since the beginning of 2020. The dramatic recovery from pandemic lows gave way to painful declines in the 2022 bear market. Data is critical to companies operating in the cloud.