Skye Gould/Business Insider
Tech stocks are definitely in a bubble, based on the sizzling rally so far in 2020, but it will take a …
Skye Gould/Business Insider Tech stocks are definitely in a bubble, based on the sizzling rally so far in 2020, but it will take a while to burst, a chief strategist said. Jonathan Bell, chief investment officer at Stanhope Capital told CNBC’s „Street Signs Europe“ Monday: „I think we are certainly in bubble territory.“ Bell’s comments come days after a sell-off in tech stocks that drove all US indices lower for two consecutive sessions on Friday. Read more: Bank of America lays out the under-the-radar indicators showing that huge swaths of the stock market are ‚running on fumes‘ – and warns a September meltdown may just be getting started On Thursday, US stocks fell the most in three months as investors sold high-flying tech stocks, causing the Nasdaq-100 to experience its sharpest decline since March, with a drop of 5.2%. But Bell thinks there are „so many good reasons“ for investors to hold stocks in Alphabet, Amazon, Microsoft, Apple and Facebook and said their outperformance is something „everyone is talking about.
