(AMZN), (GOOGL), (YHOO), (FB): Investors No Longer Skittish About Net Stocks

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.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.