Tech Stocks This Week: Facebook Surpasses $200, Red Hat Sinks, and More
Tech Stocks This Week: Facebook Surpasses $200, Red Hat Sinks, and More. Facebook is trading at about $202 at the time of this writing, and bullishness toward the company's stock comes as data privacy concerns fade away as the company demonstrates more ways to monetize its platform. Facebook introduced several new impressive features this week, including a subscription option for Facebook Group administrators and autoplay video ads within Facebook Messenger. But perhaps the one feature that could evolve into the biggest catalyst for Facebook is the company's new long-form video platform on Instagram, called IGTV. BlackBerry's outlook for software and services revenue disappoints. As BlackBerry continues to transform into a software and services company, its enterprise software and services segment has been on a roll recently. Software and services revenue in BlackBerry's just-reported fiscal first quarter was up 14% year over year on a non-GAAP basis and 18% year over year on a GAAP basis.