The tech-heavy Nasdaq closed lower, weighed by streaming giant Netflix's surprise drop in subscribers, which shook investor confidence in other high-growth companies, fearful they may face similar post-pandemic performance issues
Register now for FREE unlimited access to Reuters.comFacebook-owner Meta Platforms, the next least valuable FAANG company, was worth about $550 billion on Wednesday, with its stock dropping about 7% as investors dumped a range of former stay-at-home winners in the wake of Netflix's report.
Portfolio managers who focus on high-growth stocks with pricey valuations may reflexively snap up Netflix' deeply discounted shares following Wednesday's selloff, putting aside the company's increasingly difficult challenges with market saturation, password sharing and uncertainty in markets such as Ukraine and Russia, predicted Jim Bianco, president of financial market research firm Bianco Research in Chicago.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Netflix shares sink as Wall Street bailsAt least nine Wall Street analysts have downgraded the stock following the streaming behemoth's disappointing earnings results.
Weiterlesen »
Woman trying to cross border wall with harness becomes trapped, diesA woman died on the U.S.-Mexico border wall in Arizona after she tried using a harness to lower herself down and her leg became entangled, authorities say.
Weiterlesen »
Asian shares mixed after tech-led rally on Wall StreetStocks were mixed in Asia on Wednesday after a rally on Wall Street led by technology stocks.
Weiterlesen »
'Wall of fire' forces evacuations near Arizona tourist townWinds kicked up a towering wall of flames in rural northern Arizona on Tuesday, tearing through two-dozen structures and forcing the evacuation of more than 700 homes
Weiterlesen »
Asian shares mixed after tech-led rally on Wall StreetStocks are mixed in Asia after a rally on Wall Street led by technology stocks
Weiterlesen »