Jim Cramer explains why woes could worsen for four tech titans.
: The social media giant has leveraged its platform to steer users away from competitors and sell data to the highest bidder, Cramer said. Even if businesses choose to advertise on another popular platform, Facebook has its grasp on the industry by owning Instagram, he said. The Federal Trade Commission is gearing up to investigate the company's hold on the digital space.
"Regardless of how you feel about the issue, these stocks are less attractive than they were just 48 hours ago," Cramer said. "They are now in the crosshairs — even if they don't deserve to be. And I think that most don't, one does. It's not a good place to be."Brendan McDermid | Reuters Wall Street pulled off its second best day of the year Tuesday after stocks suffered two days of "endless panic," Cramer said. Investors got a whiff of optimism about trade with China and Mexico, and the market surged.
"Yesterday, the proprietary oscillator I follow hit negative 5, signaling that the market had gotten oversold, which is why I told you it was time to buy," the host said. "That's the real reason we could explode higher today on some chatter from foreign officials and the Federal Reserve — the market was like a coiled spring."
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