The S&P 500 index fell in the European session on Monday as the Japanese GDP expanded by just 0.6% in the second quarter against the previous recorded figure of 1% in the first quarter of 2013. However, bears couldn’t managed to break the support level of 1674 area after which buyers entered in the U.S session and took the market back up to the 1688 region where it kept playing last week.
Buying at this level does not seem to be wise as the market failed to sustain above the 1700 level, because they still fear that the boom in the market would soon fade away as the money supply from the FED may lessen very soon.
BlackBerry – Do or Die
The smart phone maker firm has been in trouble for the past several months as the number of deliveries of its new phones were not up to the market, as its competitors firms like Samsung and Apple are giving a tough time. Nevertheless, the stock price of the company rose by 5% on Monday as the committee has been set up to discuss the strategic measures that could be taken to let the company stay afloat in the market.
The option of selling off the firm seems to be a sound idea but experts say that the company may not be able to find an acquirer too soon, since the BlackBerry 10 has also been disappointing and failed to give a kick back to the firm.
However, investors would surely not waste the opportunity to buy the BlackBerry’s stock if a sound deal is done with a handsome acquisition price. We have to wait and see.
Facebook Slumps as Sandberg Sells Off
The Chief Operating Officer of Facebook – Sheryl Sandberg off-loaded 2.4 million shares last week where she bagged around $91 million dollars. She did such selling off last year when the IPO was announced for Facebook and cashed nearly 24 million dollars at that time.
She certainly is leaning in and making the most of the opportunity while playing safe, as she sold her holdings at an average price of $38 a share, when the stock price witnessed nearly a 50% gain last week followed by the earnings report of the company and its plans to generate revenue from mobile.
Followed by the sell-off, the social media giant’s share price fell from $39.1 down to $38.2 per share, while on the other hand, the CEO of FB – Mark Zuckerburg – said that he does not plan to sell any of his holdings for at least 12 more months, which means he expects the stock price to soar in the upcoming months.
To contact the reporter of this story: Jonathan Millet at email@example.com