It is fintech week on my blog but Momentum Monday is on a roll and the show must go on. I will get back to fintech week tomorrow.
In this weeks episode I do walk through the charts of all the fintech public market leaders to keep with the theme of the week.
I also walk though about 100 leading names with some new ideas that seem to be working. Hope you enjoy.
As a backdrop to the episode I think this one picture says it all with respect to leading technology stocks the last few days:
I can’t do this week’s Momentum Monday without a quick mention of Facebook. Pretty much everything has already been written. It was a staggering one day black swan loss for the stock. The largest one day drop in market value for any stock…ever.
The most level headed piece I have read comes from Ben Thompson and he made it available to everyone if you click here. For those too lazy the gist:
To insist that Facebook will die any day now is in some respects to suggest that humanity will cease to exist any day now; granted, it is a company and companies fail, but even if Facebook failed it would only be a matter of time before another Facebook rose to replace it.
That seems unlikely: for all of the company’s travails and controversies over the past few years, its moats are deeper than ever, its money-making potential not only huge but growing both internally and secularly; to that end, what is perhaps most distressing of all to would-be competitors is in fact this quarter’s results: at the end of the day Facebook took a massive hit by choice; the company is not maximizing the short-term, it is spending the money and suppressing its revenue potential in favor of becoming more impenetrable than ever.
“Utter disaster” indeed.
As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.