Why Alcoa Stock Rose Today, But Shopify and Zoom Video Shares Dropped
The Dow Jones index of blue chip industrial stocks climbed 1.3% on Monday while the tech heavy Nasdaq slumped 0.4%. Illustrative of what is happening:
Shares of tech stars Shopify(NYSE:SHOP) and Zoom Video Communications(NASDAQ:ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa(NYSE:AA) climbed to close 6.1% higher.
Image source: Getty Images.
According to MarketWatch, there’s a rotation underway, as investors sell off high-growth companies deemed t…