IDEAS home Printed from
   My bibliography  Save this article

The S&P 500 Index and the “Super 6†Technology Stocks in the Pandemic Crisis


  • Dimiter Nenkov

    (University of National and World Economy, Sofia, Bulgaria)


The subject of this research is the performance of the US stock market in the conditions of the current Covid-19 pandemic. The interest to this issue is provoked by the quite illogical record-high levels of US stock-market indices, while the economy is seriously injured by the pandemic. The broad S&P 500 index is analyzed in this case, as representative for the whole US economy. Historical performance of the index is reviewed, using its key financial indicators, such as EPS, EPS growth, as well as PE and PBV market ratios. The purpose is to check whether recent growth of stock prices is supported or not by these key indicators. After a significant, but brief collapse in March 2020, caused by the pandemic, the stock market began to pursue new price records in the months that followed. In the process of the study, it becomes evident that a very important factor for the continued increase of the S&P 500 levels during the period April-August are the so called “Super 6†technology stocks, included in the index. This is the reason why special attention is paid to some important performance indicators of these 6 companies. The elaborate comparative analysis of the above set of indicators does not support the high growth of stock prices in recent years and within 2020. It does not provide sound arguments in favor of the high current level of the S&P 500 as a whole, nor does it for the prices of the “Super 6†technology stocks.

Suggested Citation

  • Dimiter Nenkov, 2021. "The S&P 500 Index and the “Super 6†Technology Stocks in the Pandemic Crisis," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 169-187, April.
  • Handle: RePEc:nwe:natrud:y:2021:i:2:p:169-187

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    stock market; S&P 500; EPS growth; ROE; PE and PBV ratios; FAAANM (FANGAM); stock market bubble;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nwe:natrud:y:2021:i:2:p:169-187. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vanya Lazarova (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.