Inverse Zone

Gaming and Tech news

Tom Lee says worst is over for ‘epicenter’ stocks, tech warns

Tom Lee, Fundstrat Global Advisors

Scott Mlyn | CNBC

Fundstrat co-founder Tom Lee said so-called epicenter stocks and small caps have bottomed out, but the tech sector could suffer further.

Stocks in the epicenter are those hardest hit by the pandemic, including airlines, hotels, and consumer discretionary stocks, including restaurants and retailers. The small-cap Russell 2000 was down 4.4% so far this week.

Lee said that the Centers for Disease Control and Prevention’s announcement Thursday tthat fully immunized Americans no longer need masks is an important step towards getting back to normal.

Source link