Weekly Market View from Realm Investment Management. Week ending 27th May 2022.
US stocks bounced back last week after a streak of seven consecutive weeks lower but there was some volatility. Overnight on Monday, social media company Snap cut earnings forecasts. The share price fell 30% on Tuesday, closing below 13. The warning dragged similar companies such as Meta and Alphabet lower. Snap was trading above 80 back in September, a good example of the carnage that some of the former tech favourites have suffered this year.
UK and European stocks also finished the week higher, rallying back from extremely over-sold conditions and market sentiment readings.
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