Today’s Research Reports on Stocks to Watch: Facebook and Snap
U.S. markets dropped Monday as geopolitical tensions between the U.S. and North Korea grew and as technology stocks slumped. The Dow Jones Industrial Average declined 0.24 percent to close at 22,296.09, while the S&P 500 Index fell 0.22 percent to close at 2,496.66. The tech-heavy Nasdaq Composite Index fell 0.88 percent to close at 6,370.59. Apple Inc., which is the Nasdaq’s largest component by market value, decline for the 4th consecutive session.
“Today is mostly about rotation from big-winning tech stocks and into losing energy and retail stocks, which is usually a healthy sign of the bull market,” said Michael Antonelli, equity sales trader at Robert W. Baird & Co.
“As we have seen before, any news from North Korea have an instant impact on markets, but usually it does not last,” Antonelli said.
RDI Initiates Coverage on:
Facebook Inc.’s stock moved 4.53% lower on Monday, to close the day at $162.82. The stock recorded a trading volume of 38,650,871 shares, which was above its three months average volume of 16,168,800 shares. In the last year Facebook Inc.’s shares have traded in a range of 113.55 – 175.49. The share price has gained 43.39% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $170.12 is greater than its 200-day moving average of $154.54. Shares of Facebook Inc. are trading at a Price to Earnings ratio of 36.44. Shares of Facebook have gained approximately 41.56 percent year-to-date.
Access RDI’s Facebook, Inc. Research Report at:
On Monday, shares in Snap Inc. recorded a trading volume of 18,032,643 shares, which was below the three months average volume of 28,700,000 shares. The stock ended the day 3.47% lower at 13.22. The stock is currently trading 55.08% below its 52 week high with a 52 week trading range of 13.07 – 29.44.The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $15.03 is at its 200-day moving average of $15.03. Shares of Snap have fallen approximately 46 percent year-to-date.
Access RDI’s Snap Inc. Research Report at:
Our Actionable Research on Facebook, Inc. (NASDAQ:FB) and Snap Inc. (NYSE:SNAP) can be downloaded free of charge at Research Driven Investing.
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