Tanking Internet Stocks Reveal a Valuable Truth…

Oct 13, 2022 | Macro Insights, No Bull Economics

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While the Internet, social & streaming media, and Amazon seemed perfectly designed for covid lockdowns, the subsequent stock performance of sector leaders suggests that people have had their fill of the virtual life post-covid (except for Twitter’s recent bounce thanks to Elon).

While market observers suggest that sector stock performance reveals economic weakness and a pull-back in total ad spend, stock declines of this magnitude are more representative of a systematic shift in consumer behavior (with less interest in everything virtual). We have covid to thank for a resurgence in an innate desire for real human contact.

Internet Stocks Graph
Internet Stocks Graph

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