These 2 Hot IPO Stocks Are Lighting Up the Stock Market Monday

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The stock market pushed higher into record territory on Monday, bolstered by enthusiasm about the prospects for continued economic recovery and progress against the COVID-19 pandemic. Lawmakers in Washington appeared ready to move forward with efforts to provide additional stimulus checks to Americans, further fanning bullish flames. As of noon EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) had climbed 141 points to 31,289. The S&P 500 (SNPINDEX: ^GSPC) had risen 15 points to 3,901, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 75 points to 13,931.

Stocks of companies that have recently done initial public offerings have done extremely well, as their favorable opening results have further inspired investors who got in on the ground floor. On Monday, shares of Palantir Technologies (NYSE: PLTR) and Tortoise Acquisition Corp. II (NYSE: SNPR) posted significant gains as the two companies made progress toward their respective strategic goals.

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