How is QQQ stock faring? The Invesco QQQ ETF has declined 1.04% over the past five days, but is up 17.8% year-to-date.
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What Moved the QQQ ETF?
The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (NDX), closed lower by 0.37% on Thursday as concerns over the lending practices of regional banks dragged down the broader market. Moreover, the escalating trade war with China and the ongoing government shutdown continue to impact investor sentiment.
In Friday’s pre-market trading, the QQQ ETF was down 0.27% as of writing.
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 $683.25 for the QQQ ETF implies an upside potential of about 14%.
Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and Mercadolibre (MELI).
Meanwhile, its five holdings with the greatest downside potential are Intel (INTC), Tesla (TSLA), Palantir Technologies (PLTR), Applied Materials (AMAT), and Lam Research (LRCX).
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.
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