In a report released Thursday, Topeka Capital analyst Victor Anthony writes [via Barron’s Tiernan Ray] that the Internet stocks, which as a group experienced heavy selling in late February as a result of a fundamental shift in investor behavior, are bouncing-back from a risk-off environment. According to Anthony, “[Topeka’s] MarketCap Weighted Index of Internet stocks shows a recovery from the de-risking environment that began in early March as a result of mostly macro events.”
The analyst, who notes in his report that “Internet stocks have rebounded from the bottom in early May,” has “Buy” ratings on Google (GOOGL), Facebook (FB), Amazon (AMZN), AOL (AOL), LinkedIn (LNKD), Yahoo (YHOO), IAC/Interactive (IACI), and Shutterfly (SFLY).
The internet names ended Thursday’s trading session mixed, with Facebook closing down 16 cents, or 0.24%, at $66.29, posting a one-month gain of nearly 6%. Shares of search giant Google rose $2.30, or 0.39%, to close at $593.08 – ticker’s one month gain came in at 7%. Shares in the $155.3 billion market cap Amazon.com rose nearly 5 points to close at $337.49. Yahoo added 26 cents to close at $36.14.
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