Author Bio
Evan is a senior technology specialist at The Motley Fool. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder. Follow @TMFNewCow
What happened
Shares of
fuboTV (NYSE:FUBO) plunged as much as 15% today after getting a downgrade from Wall Street. BMO Capital dropped its rating from outperform to market perform while adjusting its price target from $33 to $50. As of 12:30 p.m. EST, the stock was down 9%.
So what
FuboTV shares have already more than doubled this month, leading to some concerns around valuation for the sports-centric live TV streaming platform. Analyst Daniel Salmon pointed to the tech stock s recent rally as the primary factor in the rating change. Shares had surged earlier this week following an Axios interview with CEO David Gandler that suggested the company was exploring exclusive content d
More Alarm Bells Are Being Raised About Sky-High Tech Valuations
The number of downgrades and short calls being made on tech stocks that have soared to the stratosphere has picked up this month.
Author:
Dec 23, 2020 2:27 PM EST
As certain tech stocks soar to jaw-dropping multiples, the number of analysts downgrading companies they otherwise like, due to their valuations, is mounting.
PLTR) - Get Report by Credit Suisse. In cutting Palantir’s shares to Underperform from Neutral, analyst Brad Zelnick said the data mining/analytics software firm’s valuation had become “disconnected from fundamentals” and was 50% above what Credit Suisse saw as fair in a “blue-sky scenario.”
Joe Raedle/Getty Images Uncovering and explaining how our digital world is changing and changing us.
Uber has spent years and millions of dollars making sure its workers aren’t classified as such and insisting it’s not responsible for those people’s health care. Now the company is pushing for its “earners” the word it uses to refer to its drivers and delivery people so as not to call them workers to get priority access to the Covid-19 vaccine.
It’s hardly alone in lobbying public health officials and states to put its people near the top of the list.