☁️ Week 5 Update
[Week 5, 2022] 📈 Cloud stocks built on Week 4 momentum, increasing 4%; 🤷♂️ Daily volatility driven by mixed FANG results
Cloud stocks built on last week's momentum, increasing 4.0% for the week ending February 4, 2022.
Daily Volatility Continued. Similar to last week, Cloud stocks faced a volatile week, gaining 6% on Monday, falling ~4% on Wednesday & Thursday, before finishing the week up 4% on Friday.
Big tech led early in the week.... Netflix caught an upgrade on Monday (+10%) and Google beat estimates Tuesday (opened +10%, finished +7%).
... But reversed Wednesday. PayPal guidance missed analysts' forecasts rocking shares 25%, Netflix retreated ~6% on strong YouTube ad results, and Meta Platforms (formally Facebook) shares plunged 28% as active users missed consensus.
Amazon earnings drove strong Friday finish. Increased 14% on earnings and reports the company will be increasing Prime subscription prices.
