March went out like a lion on Friday with U.S. equities trading higher and the market continuing to roar three months into the new year. Looking back at the year so far, it has been the best start for the S&P 500 in over two decades; the index was up 12.3% year-to-date. The S&P 500 finished out today with gains of 0.67% (18.96 points). The Nasdaq climbed 0.78% (60.16 points), and the Dow was up 0.82% (211.22 points) by the time the market closed.
Components of the Dow were up nearly universally today. Caterpillar (CAT) climbed the farthest during the session with a rise of 2.33%. United Health Group (UNH) also saw significant gains with an increase of 2.07%. The sole outlier in the index was the 3M Company (MMM) which saw losses of 0.33%.
Unfortunately, Atossa Genetics (ATOS) wasn’t able to finish out the month as strong. It slipped 4.86% today, landing at $3.52 per share. The company did confirm that they secured another $11.3 in cash from the exercise of warrants from last year’s financing that increases its development runway (coupled with the $10.5 MM cash that was reported to have at the end of December 2018) and further cleans up their capital structure.
The big news to watch today was Lyft’s (LYFT) performance in the market after it’s IPO. The company’s stock opened the session trading at $87.24 per share – over 20% higher than the $72 per share Lyft had been selling it’s stock at on Thursday for its initial public offering. That number dropped throughout the day, ending the session at $78.29.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
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