It appears the FANTAsy stocks (Facebook, Amazon, Netflix, Tesla, and Alphabet) are suffering this morning as investors choose not to rush to the safety of triple-digit P/E ratios amid the market's collapse. Tesla is tumbling on burning-car concerns and Netflix is dropping after another downgrade. The rest are all ugly as it seems faith in FANTAsy is failing...
Tesla's current pre-mkt price $230 is below its 200-DMA ($236.81).
- Uptrend since Nov. above ~$225; chart
- Despite proclaiming proudly yesterday that Tesla’s Total Deliveries for 2015 Were 50,580 Globally
Netflix Falls Pre-Market; Baird Cuts on Valuation, Subs Survey
- Netflix drops ~4.1% pre-market after Baird analyst William Power cuts to neutral from outperform, PT to $115 from $128, citing “balanced” risk/reward at current level.
- 4Q U.S. subs survey suggests flattish penetration q/q in the U.S., vs. a normal q/q increase into holidays
- International subs may beat expectations though sees “much of that” as priced in; notes strong recent performance and high sentiment
With everyone all-in on the "Santa Rally" who is left to buy this dip? Apart from the NYFed of course...