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MARKETS: YF Premium Investment Idea: Adobe (ADBE)

Yahoo Finance's Jared Blikre breaks down some of the features of the Yahoo Finance Premium package. Not a subscriber? Start your free trial to join future webinars live!

Video Transcript

ADAM SHAPIRO: Jared Blikre, we were talking earlier about quadruple witching. Tell us more about what investors should know as they might be going in or out of markets today in regards to that.

JARED BLIKRE: Sure thing. Well, quadruple witching is when we have the many futures contracts also going off the board in addition to stock options and a couple other things. The index options, those expired on the open. So that's done with. We didn't see a spike in volume there.

And then the other options on individual stocks, like Apple and Tesla-- well, those are going to take place at the end of trading, the after market trading today. And what happens sometimes is some of those issues, like Apple stock, will get pinned at an even number. So we'll take a look at a couple of charts in a second here.

I just want to point out that Unity just began trading. It's trading at about 6 right now-- excuse me, 76. And they IPO'd at a much lower price. I believe it's $52. Yes, that is correct. So we're seeing that getting a nice opening pop. That's 45% percent higher here.

But back to the markets. Let's take a look at the NASDAQ 100 heat map. We can see a lot of red. Once again, tech-- tech is having a lot of issues here going up. And we've seen this all week long. And in fact, tech began the day as one of the leaders. But now it is in definitely a laggard place.

So over the last five days, we've seen Facebook lose 4%, Amazon nearly 5%, Alphabet 3%. And some of the big winners this week, interestingly, have been Tesla. And then some other COVID plays like Moderna. Tesla's up 18% this week. Moderna is up 14%. And then the chips have been doing well too. Now, that's part of the tech space. So that's kind of been keeping tech afloat.

But then if you look at the software space, that's kind of a different story here. I do want to get to our Yahoo Finance Premium investment idea of the day, and that is a long in Adobe. And this comes by way of Argus Research.

They are raising their price target. And we can see that here. They're raising it to $520. And a couple of reasons here. Adobe reported another strong quarter in third quarter, with 35% non-GAAP EPS growth on 14% revenue growth. Back to you, Adam.