The Nasdaq could rise 10% as investors flee Chinese tech companies and flock to US stocks amid Beijing''s crackdown, Wedbush says
Summary List Placement US tech stocks stand to gain from China''s increased regulatory scrutiny on Didi and others. The regulatory crackdown represents "a major black eye" for the Chinese tech sector, Wedbush said in a note on Friday. As investors rotate out of China and into US tech stocks, the Nasdaq could surge 10% into year-end, according to Wedbush. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . China''s increased regulatory crackdown on stocks like Didi and Alibaba will drive a major rotation out of China tech stocks and into US tech stocks, Wedbush analyst Dan Ives said in a note on Friday. Ives sees the Nasdaq surging 10% to 16,000 by year-end, driven by a "nirvana set up" for mega-cap tech stocks as growth stories continue to unfold as part of the "$2 trillion digital transformation," Ives explained. In recent weeks, ongoing regulatory scrutiny has hampered Chinese tech companies, with Didi falling to a post-IPO low on Friday as Beijing considers unprecedented penalties on the ride-hailing company.
The Nasdaq could rise 10% as investors flee Chinese tech companies and flock to US stocks amid Beijing''s crackdown, Wedbush says
Summary List Placement US tech stocks stand to gain from China''s increased regulatory scrutiny on Didi and others. The regulatory crackdown represents "a major black eye" for the Chinese tech sector, Wedbush said in a note on Friday. As investors rotate out of China and into US tech stocks, the Nasdaq could surge 10% into year-end, according to Wedbush. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . China''s increased regulatory crackdown on stocks like Didi and Alibaba will drive a major rotation out of China tech stocks and into US tech stocks, Wedbush analyst Dan Ives said in a note on Friday. Ives sees the Nasdaq surging 10% to 16,000 by year-end, driven by a "nirvana set up" for mega-cap tech stocks as growth stories continue to unfold as part of the "$2 trillion digital transformation," Ives explained. In recent weeks, ongoing regulatory scrutiny has hampered Chinese tech companies, with Didi falling to a post-IPO low on Friday as Beijing considers unprecedented penalties on the ride-hailing company.