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.
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JPMorgan said it plans to close 21 around 25 percent of First Republic's branch location by the end of the year. The financial giant purchased the regional bank after it effectively collapsed amid an ongoing crisis in the banking sector.
Stocks are rallying Friday after a strong report on the U.S. job market helped ease Wall Street’s worries about a possible recession.
Airbnb sued New York City on Thursday over an ordinance that the company says imposes arbitrary restrictions that would greatly reduce the local supply of short-term rentals.
Rapper, producer and entrepreneur Sean “Diddy” Combs sued Diageo Wednesday, saying the spirits company didn’t make promised investments in his vodka and tequila brands and treated them as inferior “urban” products.
