2017 was an exciting year for the tech sector, especially the FAANG stocks. Lindsey Bell, Investment Strategist for CFRA, and Ryan Vlastelica, Reporter at MarketWatch, join The Long and The Short to discuss the year's ups and downs.
Bell believes Facebook and Netflix had the best year out of all the FAANG stocks. She predicts that because our lives are becoming more and more connected, Facebook, Apple, Amazon, Netflix, and Google will continue to outperform in the coming year. However, Vlastelica says investors should be wary of FAANG stocks going into 2018. Since they are such huge tech companies they are more vulnerable to a market crash.
Plus, how Tesla, Square, and Nvidia made a comeback after the fall tech sell-off. Vlastelica says Square is on an upswing because it's now offering options to pay in Bitcoin, which is a hot, trending cryptocurrency. As far as Tesla, CFRA has a "sell" rating on it, citing that it's overvalued amid increasing competition.
JetBlue says it will end a partnership with American Airlines in the Northeast after losing a court fight over the deal, and will instead focus on salvaging its proposed purchase of Spirit Airlines.
Meta has unveiled an app called Threads to rival Twitter, targeting users looking for an alternative to the social media platform owned — and frequently changed — by Elon Musk.
Contract negotiations between UPS and the union representing 340,000 of the company's workers broke down early Wednesday with each side blaming the other for walking away from talks.
Meta is poised to launch a new app that appears to mimic Twitter, marking a direct challenge to the social media platform owned by billionaire Elon Musk.
