Earnings season is driving the markets toward new record highs for the major indexes…
Though the Nasdaq is falling Friday after our good friend, Snap Inc., reported earnings well under expectations.
The company claimed it ran into big problems with its advertising business.
The news cut shares of Snap by as much as 25% Friday, dragging other ad-dependent tech stocks like Facebook Inc. and Google parent Alphabet Inc. down with it.
We’ll have to wait until next week to see if other tech firms have similar problems, but even a perfect report isn’t a guarantee of a move higher.
The trend so far this quarter is for shares to fall flat out of the gate after an earnings event... Only for the stock to conveniently come back to life after the trade you placed looks dead in the water.
We’ve seen this with commodity companies like Steel Dynamics, but no ticker is immune from this kind of earnings options manipulation...
It happened on Wednesday with Netflix, and again on Thursday with Tesla.
There’s More Than 1 Way to Play Pricey Tech Options October 18, 2021
With earnings, a stock can gap up or down and carry other names in the industry with it. This season, I’m watching for two big tech earnings reports to set the tone...
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