Yahoo Finance’s Ines Ferre joins the Live show to discuss the dip among stay-at-home stocks.
(Bloomberg) -- Social media stocks lost more than $135 billion in market value Tuesday after Snap Inc.’s profit warning, adding to woes for a sector that is already reeling from stalling user growth and rate-hike fears. Most Read from BloombergPlot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI SaysStocks Finish Off Session Lows While Bonds Climb: Markets WrapTexas Shooter Kills 18 Elementary School Children, One TeacherSocial Media Stocks Sink to Erase $135 Billion on Snap Warni
Netflix (NASDAQ: NFLX) shareholders lost ground to a falling market on Tuesday as shares dropped 5% by 11 a.m. EDT compared to a 2.3% slump in the S&P 500. Netflix stock was caught in a wider move away from tech stocks and growth stocks, but the drop was also powered by unwelcome news from Best Buy (NYSE: BBY). Best Buy said before the market opened that first-quarter sales trends were weaker than management had expected in the Q1 period that ended on May 1.