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In Tuesday's trading session, the mo-mo's are the no-no's as several of the better known momentum issues are trading in the red while the broad market is mostly higher.
A few of them are marginally lower or flat, such
Alibaba Group Holding LtdBABA and
Facebook IncFB. However,
Twitter IncTWTR was recently off by 1.29 percent,
LinkedIn CorpLNKD by 2.25 percent,
Google IncGOOG by 1.37 percent and
Tesla Motors IncTSLA by 1.7 percent.
Perhaps the most noteworthy mo-mo in the red is
Netflix, Inc.NFLX, which was trading lower by $2.14 at $472.54. After a series of upgrades and price target increases over the last few days, Piper Jaffray's price target increase to $487 might have the Street wondering if the issue is fully valued ahead of its earnings report after Wednesday's close.
Interestingly, after peaking at $485 on Monday, it could only reach $484 in Tuesday's session before falling back into the lower $470 handle.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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