September 26, 2017

Facebook, Google could see near term weakness

Facebook has confirmed that Russia-linked groups went bought ads and posted memes. They also tried to organize anti-immigrant, anti-Clinton rallies.This might hurt the economic prospects of Facebook, Google(Alphabet) and the NASDAQ as a whole. Doug Kass writes on the street,

"Despite the lax regulatory environment that exists today -- much like the FCC maintaining control of television and other media advertising -- Facebook and Alphabet's Google will likely face much more scrutiny in the months and years ahead. 
This may represent a short term blow to (T)FAANG as well as the Nasdaq. I expect the Nasdaq to underperform the other senior indices now."