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Home»Trending»Chart of the Day: Cintas (CTAS) Breaks Out to New Record High
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Chart of the Day: Cintas (CTAS) Breaks Out to New Record High

James TaylorBy James TaylorSeptember 15, 2023Updated:September 15, 2023No Comments2 Mins Read
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The Barchart Chart of the Day belongs to Cintas Corp (CTAS). I found the stock by using Barchart.com to find the “Barchart New Highs” page, and then I clicked on pull-down to select stocks with new 52-week highs. I then viewed the stocks on the list with the FlipCharts feature.

Cintas on Thursday extended this week’s rally to post a new record high and close the day up 1.67%. Cintas on Thursday took out the previous record high posted in July and could be in the process of extending the rally seen earlier this year from May through July. Barchart’s overall average Opinion on Cintas is currently at 100%.

Profile: Cintas Corporation helps more than one million businesses of all types and sizes get READY to open their doors with confidence every day by providing a wide range of products and services that enhance their customers’ image and help keep their facilities and employees clean, safe and looking their best. With products and services including uniforms, floor care, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety and compliance training, Cintas helps customers get Ready for the Workday.

On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Previous ArticleBull of the Day: Huron Consulting Group (HURN)
Next Article Opinion: The internet’s future investment opportunities are here now for the taking Every few decades, a set of technologies converge to reconfigure the global economy and the order of human affairs. We saw this with the internet, a convergence of content, computing, and telecommunications networks that took us everywhere, all at once. Before that, it was power generators, electrical grids, and the lightbulb that brought us 24/7 production. Today, several revolutionary technologies are emerging all at once: Generative AI and large language models like ChatGPT make people and companies more creative and industrious and unleash new capabilities in the economy. Blockchains help individuals and businesses to move and store value, automate complex business processes, and secure peer-to-peer transactions online without intermediaries. The Internet of Things connects everyday objects — from doorbells and thermostats to autonomous vehicles and roadway sensors — to data centers, forming an intelligent network for our connected world. Augmented and virtual realities take today’s two-dimensional Web and turn it into a spatial web integrated with our natural environment. Biotechnologies leverage living cells and biomolecular processes to augment human health through more targeted treatments and more nutritious foods. Advances in energy harvesting, batteries, and other storage technologies will revolutionize transport, energy grids, and public infrastructure with greener and cleaner options. The world is entering a new era — call it Web3. Let me explain: just as the term internet has expanded from its original internetworking definition to describe an era that comprises many technologies, business models, and social behaviors, so too is the term Web3 evolving to characterize an era composed of the group of technologies listed above, with new models and behaviors. These will define the next era of the internet. How you view them affects how you value them What does this new era mean for investors? In the mid-1990s, portfolio managers could choose among highly valued stocks such as America Online, Blockbuster, Borders, Compaq, Dell, JC Penny, Kodak, Nokia, Nortel, Palm, Polaroid, Sears, Sony, Tower Records, and Xerox, whose leaders failed to embrace the first two eras of the Web in time. If viewed through the lens of the internet, investors would have valued them differently. Web3 requires a new lens and a new field guide to help investors distinguish the firms best led, best-equipped, and most open to transform themselves under a new paradigm. As with prior eras of the Web, Web3 will become an integral technology for business. The companies that harness it will adapt to this next era of digital disruption and have a chance of thriving in it. The future is bright, but unclear To those who don’t follow new technologies, innovations can sometimes look like overnight success stories. More often, they are decades in the making. Artificial intelligence is a perfect example. Back in 1965, researchers promised that AI would fulfill all human tasks in the next 20 years. AI’s first winter came in the 1970s after 10 years of AI investment yielded precious few results. Research and development continued for decades through balmy AI summers and AI ice ages lasting decades. Investor sentiment is, after all, cyclical. Last year, the consensus was that, with the end of zero-interest rate policy, a long cycle of technology innovation and investment was coming to an end. Web3 got caught up in that — for a time. Some pointed to the 2022 collapse of FTX to justify their concerns about Web3: This new technology, while innovative and useful in the hands of central banks or big companies, was a net negative to society in the fray of the free market. To them, it gave speculators new instruments to bet on and criminals new tools for evading the law. By that logic, the collapse of FTX was not due to the technology but to the hubris or the incompetence of those wielding it. What Web3 means for investing in technology All industries have setbacks. Did the age of exploration end when John Cabot went missing in the Northwest Passage? Did the “Industrial Revolution” devolve amid the Panic of 1873, when John Cooke closed his doors and investors sold off their railroad securities? Did we call it quits on the web when dot-com stocks plummeted in 2001? Or, in each case, did we find ourselves at a beginning, and not the end, of an era of staggering upheaval, change, and progress? This historical frame is useful for investors. It helps investors to moderate whatever extreme views they may have, from exuberance or complacency to cynicism or dismissal. As businesses integrate Web3 technologies, tremendous value will accrue to enduring platforms such as ethereum ETHUSD, and bitcoin BTCUSD. The companies that have mapped their transition to these and other new technologies, and can weather the current market storm, will reap the long-term rewards. Alex Tapscott is an investor and adviser focused on the impact of emerging technologies — such as blockchain and cryptocurrencies — on business, society, and government. He is the author of “Web3: Charting the Internet’s Next Economic and Cultural Frontier” (Harper Business, Sept. 2023). More: Here’s an easy way to make a more concentrated play on the ‘Magnificent Seven’ stocks Also read: Bitcoin ETF would be a win for BlackRock — but maybe not for crypto investors
James Taylor
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A writer and finance enthusiast who loves diving into the exciting world of stocks, commodities, forex, and crypto. I'm all about making the financial markets less intimidating and more accessible, so I write engaging content that simplifies complex concepts and shares practical investment strategies. Whether you're a seasoned investor or just getting started, I've got your back! But hey, life isn't all about work, right? On weekends, you'll find me hanging out and having a blast with my awesome friends and family. We love bonding over shared interests, trying out new adventures, and simply enjoying each other's company. Striking that balance between work and play is super important to me, because what's the point of success if you can't share it with the people you love? So, if you're up for some financial market insights and a good dose of weekend fun, stick around! Together, we'll navigate the money world and make the most of our time off. Let's learn, grow, and create memories along the way!

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