The recently dubbed “Lag Seven” players are again… behind.
After a brief comeback on Wednesday when the Federal Reserve was resupplied, most of the major tech giants had lost steam by the second half of Thursday. Exceptions: Nvidia (NVDA) and Meta (Meta). Each rose 0.8% and 0.7% respectively, leaving less than 20 minutes to close the bell.
Still, almost all of the “magnificent 7” stocks are about 20% off the 52-week high as risk-off sentiment continues with bigger policies and gives uncertainty. Tesla (TSLA) is over 50%.
“Because this uncertainty could continue, I don’t think it’s time to take a big risk bet, especially before April 2nd, looking for a home run,” Piper Sandler’s chief investment strategist Michael Kantrowitz told Yahoo Finance Thursday.
“I think if there’s a very high quality name that provides stability, then this is the type we’ve been recommending in this volatile background, and we have a fair amount of volatility.”
