For investors seeking momentum, Global X Cloud Computing ETF (CLOU - Free Report) is probably on radar. The fund just hit a 52-week high and is up 61.4% from its 52-week low price of $12.36/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
CLOU in Focus
This fund seeks to invest in companies positioned to benefit from the increased adoption of cloud computing technology, including companies whose principal business is in offering computing Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and cloud and edge computing infrastructure and hardware. CLOU charges 68 bps in annual fees (see: all the Technology ETFs here).
Why the Move?
The cloud computing corner of the broad stock market has been an area to watch lately, given rising demand. The area is growing exponentially buoyed by stay-at-home orders that have boosted demand for work and entertainment from home. Even if the economy reopens, the trend is likely to continue given the change in consumer behavior. Cloud computing has encouraged video conferencing, gaming, e-commerce, remote project collaboration, online classes and other programs.
More Gains Ahead?
It seems that CLOU might remain strong given a high weighted alpha of 36.2 but could be a risky choice as depicted by 20-day volatility of 30.6%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Global X Cloud Computing ETF (CLOU - Free Report) is probably on radar. The fund just hit a 52-week high and is up 61.4% from its 52-week low price of $12.36/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
CLOU in Focus
This fund seeks to invest in companies positioned to benefit from the increased adoption of cloud computing technology, including companies whose principal business is in offering computing Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), managed server storage space and data center real estate investment trusts, and cloud and edge computing infrastructure and hardware. CLOU charges 68 bps in annual fees (see: all the Technology ETFs here).
Why the Move?
The cloud computing corner of the broad stock market has been an area to watch lately, given rising demand. The area is growing exponentially buoyed by stay-at-home orders that have boosted demand for work and entertainment from home. Even if the economy reopens, the trend is likely to continue given the change in consumer behavior. Cloud computing has encouraged video conferencing, gaming, e-commerce, remote project collaboration, online classes and other programs.
More Gains Ahead?
It seems that CLOU might remain strong given a high weighted alpha of 36.2 but could be a risky choice as depicted by 20-day volatility of 30.6%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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