Tech Slumps Again

Tech stocks are down this morning. The fantastic rally in tech seems to be unwinding. There often seems to be a change in market sentiment after Labor Day.

Shares of Tesla were again snubbed by the S&P 500. Despite Tesla’s large size (market cap near $400 billion), the index keepers at S&P haven’t added it to their prestigious index. Also weighing on Tesla, GM took a $2 billion stake in Nikola. They’re going to partner together to make a pickup truck. Nikola is up 25% and GM is up 6%. Tesla is down 15%.

Ahead of Halloween, Hershey (HSY) is partnering with Google to use a person’s search history so they can tailor ads based on whether the person is likely to go out outside or not.

Hershey will tailor digital ads to households using search data provided by Google to overcome fresh challenges that threaten to derail this year’s Halloween.

The Pennsylvania-based candymaker struck a deal with Google last month for access to data showing whether people are more or less likely to go outside based on what they search for. For instance, a person who sought out business hours for nearby stores or vacation ideas suggests the likelihood to go outside.

Honestly, that sounds a little creepy.

Posted by on September 8th, 2020 at 9:36 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.