Valuations Drive Recent Uncertainty With Momentum Stocks

Momentum stocks looked to be on the rise leading into the summer season but valuations seem to be driving some recent uncertainty. Apple moved to the top of the momentum race with gains of 5.5% since June 25. Tesla on the the other hand went from first to last with a loss of 7.5%. Apple's stock price currently sits just over $95 dollar a share. Tesla's is at $222 a share. Other momentum stocks Amazon, Google and Netflix only saw incremental changes - Since June 25th, Amazon is down 1.1%, Google is down 1.3% and Netflix is up 0.2%. Look out for the companies's quarterly earnings later this month and in Early August for more.