Momentum Monday – The Dips Keep Getting Bought

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The latest COVID-scare selloff lasted a hot minute. There was no panic selling. The market went through this before last year and had a playbook. Instead of blindly selling everything, it allocated money to stocks likely to benefit from the recent surge in COVID cases and restrictions around the world – vaccines (MRNA, BNTX, NVAX), tests (QDEL, HOLX, TMO), online retail (SHOP, AMZN, MELI, EBAY, CHWY, GLBE, ETSY), cybersecurity (ZS, CRWD, PANW, NET), fast food deliveries (DPZ, PZZA, MCD, WING), remote work (UPWK, FVRR, EXPI), software in general (TEAM, BILL, AVLR, MSFT), advertising and social media (SNAP, TWTR, PINS, FB, GOOGL, TTD, IPG, MGNI), Online payments (SQ, PYPL, V, MA, AAPL), home renovation (FND, HD), etc.

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