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Wednesday, 06/29/2022 6:11:42 AM

Wednesday, June 29, 2022 6:11:42 AM

Post# of 648882
JPMorgan drastically cuts price target of META, NFLX, and AMZN stocks

STOCKS NEWS


Investment bank JPMorgan (NYSE: JPM) has started slashing prices left and right with the more recent ones aimed at FAANG stocks.

Namely, the firm cut Meta Platform (NASDAQ: META) to $225 from $275, Netflix (NASDAQ: NFLX) to $230 from $300, and Amazon (NASDAQ: AMZN) to $175 from $200.

Meanwhile, the U.S. dollar slipped lower against its peers, oil prices jumped and investors received positive news from China related to Covid travel restrictions as market participants are looking for sparks to ignite a possible rally.

Further, Central Banks worldwide promised to lift interest rates to fight inflation, withdraw liquidity to decrease demand, and tame consumer price increases, which in turn hit growth metrics and stoked recession fear

MORE with charts https://finbold.com/jpmorgan-drastically-cuts-price-targets-of-meta-nflx-and-amzn-stocks/?SNAPI

Pray for A Pain Free Day!

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