Cloud computing stocks are hitting an all-time high as coronavirus forces remote work, according to one measure

CNBC May 21, 2020
Jordan Novet

Key Points

– The BVP Nasdaq Emerging Cloud Index and the corresponding WisdomTree Cloud Computing Fund hit new highs this week.

– Not all cloud funds are at record levels this week.

An index of cloud stocks developed by venture-capital firm Bessemer Venture Partners reached new highs this week as U.S. indexes still recover from the selloff that began in February.

The BVP Nasdaq Emerging Cloud Index, established in 2013, is up about 31% for the year, while the S&P 500 is down about 9%.

The performance has to do with the strength of its constituents: Mostly mid-cap companies that have gone public in the last few years, and that provide specialized cloud services for businesses in areas...

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