When Bank of America’s Chief Investment Strategist turned bullish last month amid a plethora of dire sentiment readings, few paid close attention.
Then the markets rose by 20% off their lows.
So, what is Wall Street’s most accurate analyst saying now?
In a word: SELL.
According to Hartnett,
» Read more about: “SELL”: Wall Street’s Most Accurate Analyst »
Roku’s most recent financial report disappointed investors. Slowing streaming growth and lower ad spending, paired with economic uncertainty, have caused Roku’s stock to plummet.
Shares are down over 66% year to date and more than 80% compared to the highs reached last year. The stock is so battered that many are staying away.
Following the company’s second-quarter report, Amazon (AMZN) stock surged, but not because of its e-commerce business.
Amazon’s growth rate slowed, and the company took a loss in e-commerce. However, its cloud services business, Amazon Web Services (AWS), reported a 36% jump in operating income.
» Read more about: The Single MOST Important Number for Amazon »
When you think of 91 year old Warren Buffett’s stock picks, old stodgy companies with wide moats that spit off massive amounts of cash come to mind. From railways to insurance, the laundry list of market-beating companies Buffett owns through his holding company Berkshire Hathaway is the stuff of legend.
But one sector Buffett has famously avoided up until the last few years is technology,
» Read more about: 1 Monster Software Stock Even Buffett Owns »
Although it’s essential to protect your investments, it’s equally important to remember that bear markets don’t last forever. While some began panic-selling, others have treated the downturn as an opportunity to buy assets at a discount. When the tide turns,
The Nasdaq Composite entered a bear market in Q1. One investor treating the pullback as a buying opportunity is billionaire Israel Englander of Millennium Management. He added to his shares of The Trade Desk, an industry leader gaining momentum in the programmatic advertising space.
Although analysts have been cutting price targets for growth stocks,
It wasn’t long ago Meta had a trillion dollar market capitalization. Zuckerberg’s empire spanned social media giants Facebook and Instagram, as well as Whatsapp and Oculus. Then TikTok came along and everything changed.
A few years ago the only platform that could claim a billion monthly active users was Facebook, but by January of this year TikTok had eclipsed this threshold and a full 3 billion users have installed the app.
If you listened to the mainstream financial news networks, you would be forgiven for thinking that a softening economy, higher inflation, and rising interest rates had crushed the consumer and that spending was on the verge of a titanic plunge. But if that’s all true why is Visa down by a small single digit percentage for the year while the S&P 500 is down almost 3x as much?
» Read more about: Is This Buffett Favorite A Screaming Buy? »
