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They are just basing, which is required for them to have another big move up. Think of bases as rest stops. A break to new high would be a bullish move that okay we are ready to keep going up now, while a break below would be a bearish move that okay maybe we aren't as strong as we thought we were, going to sleep now.
I beg to differ. Some FAANG stocks haven't "gone nowhere"; they have actually gone DOWN.
Facebook
$294.68 on Nov 5 (gee, I wonder what happened around that time?)
$251.88 today (Jan 5)
A DROP of 14.5%.
Twitter
$55.87 on Dec 18
$45.33 today (Jan 15)
A DROP of 18.9%.
Both are likely to go the way of MySpace. Easy to shift your social networking to newer sites and different medium. Like the main stream media, the choices will increase in number and variety and people will ditch the main sites that they began with. I was talking to some youngsters (under age 20), and none of them have FB accounts. FB is for old people they told me. Their generation moves quickly to the newest variation: FB > Instagram > WhatsApp > TikTok > SnapChat > and so on.
Hopefully, the advertisers will catch on and ditch FB and Twitter also.
I beg to differ. Some FAANG stocks haven't "gone nowhere"; they have actually gone DOWN.
Facebook
$294.68 on Nov 5 (gee, I wonder what happened around that time?)
$251.88 today (Jan 5)
A DROP of 14.5%.
Twitter
$55.87 on Dec 18
$45.33 today (Jan 15)
A DROP of 18.9%.
Both are likely to go the way of MySpace. Easy to shift your social networking to newer sites and different medium. Like the main stream media, the choices will increase in number and variety and people will ditch the main sites that they began with. I was talking to some youngsters (under age 20), and none of them have FB accounts. FB is for old people they told me. Their generation moves quickly to the newest variation: FB > Instagram > WhatsApp > TikTok > SnapChat > and so on.
Hopefully, the advertisers will catch on and ditch FB and Twitter also.
Of course Twitter went down. They booted their best draw off their platform and quite a few others are following suit. What did anyone think was going to happen?
Well, Twitter is in the same space as FB. And I suspect the DROP is related to the same issues as that of FB, eh?
The other four -Apple, Amazon, Netflix, and Alphabet- are not in the social media space and so track differently than FB and Twitter.
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