When the selling is resuming for a weekend there nasdaq lost 11k. It is the worst two days they are trying to get 3400 back as the fns or week. Lets check in with bob pissani and get a since of what you think is going on. What was interesting is we were drifting lower going into the nonfar payrollm payrolls there is tech to the downside. Right across the board industrials are a little weak. Energy is better and bank stocks are up as we have seen the yield curve steepenning. A lot of pressure in the middle of the day the stocks in the last several days, he would have gone on a up and down in the last five or six days and i will show you a couple examples of that. These are all stocks that have been extremely frothy in the last 60 trading days docusign had excellent numbers and very positive commentary overall. So what happens next in a correction when you get big frothy runups you can overshoot. Nvidia when from 505 to 580. All of the way down to 580 you can see it is slipping below tha
Snap has beaten up the social media stock. Scott devitt is injoing us by phone. Welcome back. Thank you for having me. This is a heavy call. People expected the stock to move lower why today with this move the lockup expiration i think is more and more internet cops have become public over the past five, six, seven years. Investors have become more educated on timing and pricing in the incremental supply and snap has been responding to the upcoming lockup expiration for some time now. But its important to note that its not just about the lockup operation. There has to be a fundamental story behind the stock and were more favorable right now. People are growing more conscious at a time when you seem to be growing more optimistic based on what metric we track things at downloads and engagement which is disclosed by the company and our view is that the narrative thats been created by instagram, Facebook Messenger continuing to add core features and functionality that the market is zero su