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Information Technology : IT Services | Small Cap Growth
Company profile

LiveRamp Holdings, Inc. is a technology company. The Company provide enterprise data connectivity platform that helps organizations to leverage customer data. Powered by core identity capabilities and a network, it enables companies and their partners to connect, control, and activate data to transform customer experiences. It enables organizations to access and leverage data across the applications they use to interact with their customers. The core component of its platform is the omnichannel, deterministic identity graph. The LiveRamp platform resolves a customer's data to consumer identifiers that represent real people in a way that protects consumer privacy. Its solution offers people-based marketing solutions, including onboarding, identity resolution, Safe Haven, analytics and measurement, and consent management.

Closing Price
$46.75
Day's Change
-2.80 (-5.65%)
Bid
--
Ask
--
B/A Size
--
Day's High
49.29
Day's Low
46.51
Volume
(Heavy Day)
Volume:
1,093,385

10-day average volume:
686,902
1,093,385

Get ready for $178 billion of selling ahead of the capital-gains tax hike. These are the stocks most at risk.

8:43 am ET April 24, 2021 (MarketWatch)
Print

By Steve Goldstein

Critical information for the trading day

Avid readers of this column may have had a sense of déjà vu on Thursday. Last month, a Need to Know column explored what would pay for President Joe Biden's infrastructure spending -- and quoted a former Biden aide, Evercore ISI analyst Sarah Bianchi, who said it would "probably include nearly doubling capital-gains taxes on those with income over $1 million (https://www.marketwatch.com/story/biden-may-propose-1-trillion-in-new-taxes-says-a-former-aide-and-heres-how-congress-will-react-11615978938)." Not that it was any state secret -- the Biden campaign's website suggested such a move too.

In any case, the stock market reacted negatively to the Bloomberg News (https://news.bloombergtax.com/daily-tax-report/biden-to-propose-capital-gains-tax-as-high-as-43-4-for-wealthy) report that the White House was considering doubling capital-gains taxes on the wealthy to help pay for social spending, as the S&P 500 dropped by the most in a month. The news was particularly jarring to the highflying cryptocurrency space, with bitcoin and ethereum slumping.

One question now is whether the closely divided Senate will go for it. "Frankly, I suspect that these proposed tax increases will be knocked down at the hands of Senator [Joe] Manchin who remains the 'swing' vote in the Senate," said Louis Navellier, the chairman of Navellier & Associates. An alternative is that the Senate could increase the capital-gains tax, but by a smaller amount -- analysts at Goldman Sachs suggest they'll settle at 28%, up from 20% currently. Another question is whether the tax will be applied retroactively or not.

Analysts at Goldman Sachs -- in October -- ran the numbers on the stock market impact of previous capital-gains tax hikes. While there is only a modest impact on the stock market as a whole, momentum stocks usually get socked before they are levied, they found. That makes sense -- investors logically are more motivated to sell the stocks where they would save the most by avoiding higher capital-gains taxes.

The last time capital-gains taxes were hiked, in 2013, the wealthiest households sold 1% of their equity assets, the Goldman analysts found. According to the Federal Reserve's distributional financial account data (https://www.federalreserve.gov/releases/z1/dataviz/dfa/compare/chart/#quarter:125;series:Assets;demographic:networth;population:all;units:levels), the top 1% held $17.79 trillion of equities and mutual funds in the fourth quarter of 2020 -- so a 1% selling of stocks this time would be $178 billion. (The most recent Internal Revenue Service breakdown, from 2018, found that millionaires accounted for just over 500,000 filers, or about 0.4% of the total.)

Here is the list of the top price gainers in the S&P 500 and Nasdaq-100 over the last year and over the last five years.

S&P 500 and Nasdaq-100 gainers 
Company  One-year % change  Company  Five-year % change 
Penn National PENN  575  Enphase Energy ENPH  6160 
L Brands LB  548  Etsy  2230 
Caesars Entertainment CZR  527  Advanced Micro Devices AMD  1882 
Tesla TSLA  392  NVIDIA NVDA  1538 
Gap GPS  368  Tesla  1318 
Freeport McMoran FCX  355  MercadoLibre MELI  1137 
Enphase Energy  321  Paycom Software PAYC  943 
Tapestry TPR  237  Atlassian Corp. TEAM  859 
Etsy ETSY  235  Align Technology ALGN  733 
Generac Holdings GNRC  233  Generac Holdings  720 
Moderna MRNA  228  Micron Technology MU  695 
Peloton Interactive PTON  226  Lam Research LRCX  662 
Align Technology ALGN  224  ServiceNow NOW  650 
News Corp NWSA  219  Zebra Technologies ZBRA  647 
SVB Financial SIVB  210  Caesars Entertainment  645 
Data: FactSet (News Corp owns MarketWatch, the publisher of this report.) 

Random reads

The launch of crew to the International Space Station was successful on Friday morning -- here's a profile of the four astronauts on board (https://www.space.com/spacex-crew-2-astronauts-ready-for-launch).

The Los Angeles Dodgers will set aside a "vaccinated only" section (https://www.latimes.com/sports/dodgers/story/2021-04-21/dodgers-stadium-vaccinated-fan-seats-padres)for Saturday's baseball game.

A man used 80 pounds of explosives -- for a gender-reveal party. (https://www.marketwatch.com/story/gender-reveal-party-using-80-pounds-of-explosives-rattles-new-england-towns-01619146945)

Need to Know starts early and is updated until the opening bell, but sign up here (https://www.marketwatch.com/newsletters?mod=article_inline)to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

Want more for the day ahead? Sign up for The Barron's Daily (https://www.barrons.com/newsletters?sub=462), a morning briefing for investors, including exclusive commentary from Barron's and MarketWatch writers.

-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

April 24, 2021 08:43 ET (12:43 GMT)

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