2021 has gotten off to a solid start on Wall Street, and the good times continued for the Nasdaq Composite (NASDAQINDEX: ^IXIC) on Wednesday morning. As of 10:45 a.m. EST, the Nasdaq was up almost half a percent, with many believing that the index will soon challenge its all-time highs from late last week.
For a long time now, it’s been the high-growth leaders of the Nasdaq that have helped power the entire stock market higher. That’s left value investors in the dust, wondering if beaten-down stocks would ever have their heyday. Well, at least on Wednesday, market participants are looking closely at some companies that have been on the outs lately. What they’re seeing has the stocks moving higher. Let’s look more closely at what’s pushing Intel (NASDAQ: INTC) and Nikola (NASDAQ: NKLA) upward after a long period of lagging performance.
Intel has been a big laggard in the Nasdaq recently. The chipmaker saw its stock drop 17% in 2020, even as most tech giants were adding to impressive gains.