Is Big Tech dead?
That’s the question on every investor’s mind right now.
In today’s video, we’re going to take a look at the three-year returns of Meta, Amazon and other Big Tech stocks.
We’re also going to look at these companies’ expected growth rates over the next three years.
(If you’d prefer to read a transcript, click here.)
Regards,
Ian King
Editor, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
Snap Inc. (NYSE: SNAP), the parent company of Snapchat, is up 49% this morning. The stock is on a rebound after being dragged down by the sell-off in social media stocks on Thursday despite Snap’s great earnings for Q4.
Bill.com Holdings Inc. (NYSE: BILL) provides cloud-based software that simplifies and automates back-office financial operations for small and midsize businesses. The stock jumped 30% after it provided better-than-expected guidance for 2022 when it reported Q2 earnings that beat estimates.
Sphere 3D Corp. (Nasdaq: ANY) is a data management company that is transitioning to cryptocurrency mining. It is up 21% on the news of a deal to acquire next-generation bitcoin mining equipment to expand its mining operations.
EGain Corp. (Nasdaq: EGAN) is a cloud platform provider of customer engagement automation solutions and services. It is up 21% after it reported record revenues and an earnings beat for Q2 driven by strong bookings in the quarter.
Aurora Innovation Inc. (Nasdaq: AUR) is a self-driving technology company that is up 18% this morning. The move came after e-commerce giant Amazon revealed its 5.2% stake in Aurora.
Unity Software Inc. (NYSE: U) provides software solutions to create, run and monetize interactive 2D and 3D content for smartphones, PCs, consoles and virtual reality devices. The stock is up 16% after it beat Wall Street’s Q4 estimates and raised guidance for 2022.
Standard Lithium Ltd. (NYSE: SLI) explores, develops and processes lithium brine properties. It is up 14% on a bounce from its drop on Thursday after short seller Hindenburg Research published a report alleging the company’s lithium extraction technology does not work.
Redbox Entertainment Inc. (Nasdaq: RDBX) operates a network of self-service kiosks where consumers can rent or purchase new-release DVDs and Blu-rays. It is up 13% on a rebound after crashing 50% on the news that its financial results were hurt more than expected by the lack of new movies in 2021.
Magnite Inc. (Nasdaq: MGNI) is an online advertising technology company. It is another stock that is up 13% on a rebound after dropping on Thursday along with social media and tech stocks.
Bit Digital Inc. (Nasdaq: BTBT) is a cryptocurrency miner that is up 12% this morning. It is climbing higher along with several other crypto-related stocks in response to a broader uptrend in the crypto markets.
