Stocks Are Down, and the Tech Industry Takes a Weird Turn [Bloomberg Business News]
Blue Apron Holdings, Inc. (APRN)
Last blue apron holdings, inc. earnings: 4/29 06:15 am
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Source: Bloomberg Business News
This was supposed to be tech’s year. It was supposed to be the year that animal spirits took hold and the IPO window opened. It was supposed to be the year tax repatriation fueled an M&A bonanza. And it looked like it would be another year where the tech’s Frightful Five soared, crushing also-ran tech stocks under their weight. This week's correction —the S&P 500 and NASDAQ are both down about 10 percent from their record highs—has thrown everything into question. It could very well be a blip. I have no idea. Don’t come to me for macroeconomic prophecies. The stock markets have been whipsawing, rising and falling more than 1,000 points in single days of trading. Just looking at the charts, it seems obvious that the market was due for some kind of drop after a nearly unbroken march upward last year. All was well. Banks had grown so confident that Credit Suisse Group AG was placing big bets that the markets would remain calm. Then last Friday, the market d
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