Why You Should Buy Facebook And Alphabet In September [Forbes]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: Forbes
Ken Kam Contributor i Jul 17, 2018, 03:02pm #StockWatch Tweet This On September 28, Facebook and Alphabet will be reclassified from the Information Technology sector to the Communications Services sector. About 74% of Facebook and 80% of Alphabet is owned by mutual funds, ETFs and other institutions. The problem is that there are a lot more Technology funds that have to sell than Communications funds that will have to buy. Tony Mitchell, one of my managers, believes this imbalance will probably make it a good time to buy Facebook and Alphabet. Ken Kam: Tony, unlike most tech-fund managers it looks like you are planning to hold onto Facebook even after it is no longer classified as a tech stock. Is that right? Facebook's founder and CEO Mark Zuckerberg. (Photo by Chesnot/Getty Images) Tony Mitchell: I will be holding Facebook. I would never sell a stock just because it is reclassi
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