Kit Rees / Bloomberg:
The subpar performance of FAANG stocks, which account for more than 10% of the S&P 500 weighting, will be a big drag on the market in the coming years — For some investors, this year’s rout in high-flying technology stocks is more than a bear market: It’s the end of an era for a handful …
Wall Street Journal:
Robinhood launches Investor Index, updated monthly, to track the performance of the 100 most popular stocks in its app, weighting users’ “conviction” in them — Robinhood Markets is launching an index to track the favorite stocks of its millions of predominantly young, social-media-savvy customers.
Reuters:
SoftBank-backed Indian e-commerce firm Snapdeal drops its $152M IPO plans, after filing in December 2021, amid a tech stock rout — SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty …
Berber Jin / Wall Street Journal:
Accel, Lightspeed, Sequoia, a16z, and other firms are increasingly buying public tech stocks, capitalizing on low prices, as the private startup market stalls — Startup investors, known for making risky bets on unproven companies, are taking advantage of lower share prices following a market rout
Ashley Capoot / CNBC:
Larry Page’s flying car startup Kittyhawk says it will “wind down” and is “working on the details of what’s next”; Kittyhawk was founded as Zee.Aero in 2010 — – Google co-founder Larry Page’s flying car startup Kittyhawk is winding down, the company announced.
Zac Bowden / Windows Central:
Microsoft launches its ARM mini-PC Windows Dev Kit 2023, formerly Project Volterra, with Snapdragon 8cx Gen 3 and 32GB RAM for $599, coming to eight countries — Available to order now in 8 markets for just $599. — What you need to know — Microsoft’s Windows on ARM developer kit launches today for just $599!
Naoto Hosoda / Bloomberg:
Chip-related stocks slump in Japan, South Korea, and Taiwan after US curbs on China; the PHLX chip index fell to its lowest level since November 2020 on Monday — Chip-related stocks in Japan, South Korea and Taiwan slumped as traders returning from Monday’s holidays reacted …
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