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.
Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing the GIF-sharing platform over competition concerns.
Century 21 was a long-time staple for bargain shopping in Manhattan when it went belly up in 2020 at the height of the COVID-19 pandemic. Now, as of last week, the store has reopened and some locals see it as a sign of an economic recovery in New York City.
Paramount Global is set to absorb Showtime into Paramount+, creating a single streaming option to compete with the likes of Netflix and Warner Bros. Discovery’s Max. The company also plans to raise the monthly price from $9.99 to $11.99 per month after the integration.
Debt ceiling talks are underway in Washington, DC ahead of a default deadline. Michael Rosen, chief investment officer with Angeles Investments, joined Cheddar News to explain how a potential default could affect investment portfolios, among other items, for Americans.
