After another bout of selling, the Internet Group in the US is once again significantly oversold
After another bout of selling, the Internet Group in the US is once again significantly oversold. According to Bespoke Investments, 24 of the 30 largest Internet stocks are oversold (based on their 50-day moving averages). The list of oversold stocks includes Google, Facebook, Amazon, eBay, Yahoo, and just about every big Internet name out there. In general, the sell-off looks to be systematic rather than stock-specific. In most cases, the biggest names in the group posted better than expected earnings or met expectations. At some point (perhaps in the near future), investors are going to start looking at Internet stocks as buying opportunities. (VIEW LINK)
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
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