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From: Julius Wong4/21/2024 9:07:13 AM
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The 2 'micro' companies powering the small-cap Russell 2000 this year: Chart of the Week

But the small-cap Russell 2000 index has its own pair of Magnificent members: “The Micros.”

Together, MicroStrategy (MSTR), the bitcoin proxy play led by the endlessly quotable Michael Saylor, and Super Micro Computer (SMCI), a cloud storage company riding the AI demand for more computing power, are responsible for single-handedly keeping the index’s year from going from bad to worse.

The Russell is down well over 3% this year, and without these two stocks’ performance, it would be down around 7% as of Thursday, according to DataTrek. As DataTrek’s co-founder Nicholas Colas put it this week, “The Russell needs a few more meme-ish stocks, not fewer, if it is to start generating better returns.”

finance.yahoo.com



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