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China Denounces Online Videogames. It Could Boost Big Tech Stocks. | Barron's

August 4, 2021
Source: barrons.com barrons.com
News Snapshot:
Roblox's avatar lineup. Courtesy Roblox Videogame stocks’ pain could be Big Tech’s gain. Another potential crackdown on Chinese tech companies may push investors back to the relative safety of large U.S. technology stocks such as Alphabet (ticker: GOOGL) and Microsoft (MSFT), according to Wedbush analyst Dan Ives. Worry over a crackdown emerged Tuesday, after a publication controlled by the Chinese government described online games as “spiritual opium,” according to multiple reports . “It feels like everyday there is another regulatory shot across the bow from Beijing which is adding pronounced risks to Chinese tech stocks across the board and thus...
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