Are Investors Giving Up on These 2 Nasdaq Growth Stocks?
Thursday brought a mix of news to stock market investors, some good and some bad, and it reflected the interesting dichotomy between two different areas of the market. On one hand, old-economy stocks fared fairly well, sending futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) sharply higher. However, innovative growth companies fared less well, and that sent Nasdaq Composite (NASDAQINDEX: ^IXIC) futures down again.
The biggest declines among Nasdaq stocks came from Meta Platforms (NASDAQ: META) and Align Technology (NASDAQ: ALGN). There are a lot of differences between social media and orthodontics, but the thing the two companies have in common is that they soared during the bull market in growth stocks in 2021 and have seen massive declines since then. Both just released their latest financial reports, and below, you'll learn more about what they said and why shareholders aren't happy about it.
Shares of Meta Platforms plunged 23% in premarket trading Thursday morning, building on losses that started late Wednesday after the social media company reported its third-quarter financial results. Investors have been skeptical about the Facebook parent's shift toward an emphasis on the metaverse, and thus far, Meta hasn't been able to do much to offer any concrete reassurances about their fears.
Source Fool.com
