5 ETF Areas That Underperformed in May
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 31 2024
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Source: NASDAQ.COM
- Wall Street Performance: Wall Street experienced a robust upswing in May driven by expectations of Federal Reserve rate reductions, strong corporate profits, and the AI craze, with all three principal indexes reaching record highs.
- Economic Indicators: Recent data shows the U.S. economy on track for robust GDP growth in Q2, with business activity surging, consumer confidence rising, and earnings increasing significantly.
- Investor Sentiment: Investor sentiment is optimistic due to rate cut expectations, but concerns over rising rates have resurfaced towards the end of the month, impacting confidence.
- ETF Areas Underperforming: ETF areas like Marijuana, Inverse Bitcoin, Energy, Cybersecurity, and Sugar experienced declines in May due to various factors affecting their respective industries.
- Regulatory Changes: The U.S. government is considering reclassifying marijuana, the SEC approved Ether ETFs, and the lack of Fed rate cuts impacted energy ETFs, reflecting changing regulatory environments and market dynamics.
Analyst Views on IEO
Wall Street analysts forecast IEO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IEO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 94.340
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Current: 94.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
