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Most Music & Tech Stocks Tumble As Twitter Hits All Time Low

image from www.hypebot.comMost music and tech stops traded sharply downward on Wednesday, as Wall Street reacted a cluster of mixed earning reports. Pandora, Facebook, Google, Twitter, Apple, Amazon, AOL, Yahoo SiriusXM and SFX all finished down.  Of the 10 music and entertainment stocks tracked daily by Hypebot, only Live Nation and Sony Corp traded up.

Twitter was among the worst hit. Twitter shares fell 17% Tuesday and fell again 3.7% to an all time low of $30.66 Wednesday. Overall the markets were mixed on Wednesday. The Nasdaq Composite ended the day 0.32% down. The Standard & Poor's 500 Index gained 0.56%.

You're seeing a brutal shift from growth and momentum investing to more value-based investing," Chad Morganlander, a fund manager at Stifel Nicolaus & Co., told Bloomberg News. "The momentum stocks are ridiculously overvalued, but nonetheless, the overall broader market is fairly valued."

Prices at Wednesday's close:

AAPL - NMS$592.33Down

Apple Inc.
 
AMZN - NMS$292.71Down
 
Amazon.com, Inc.

FB - NMS$57.39Down

Facebook, Inc.

GOOG - NMS$509.96Down

Google Inc.

LYV - NYQ$23.03Up

Live Nation Entertainment, Inc.

P - NYQ$22.17Down

Pandora Media, Inc. Common Stoc

SIRI - NMS$3.15Down

Sirius XM Holdings Inc.

SFXE - NMS$6.62Down

SFX Entertainment, Inc.

SNE - NYQ$17.55Up

Sony Corporation Common Stock

TWTR - NYQ$30.66Down

Twitter, Inc. Common Stock

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