This has been a brutal year for Big Tech, as you can see in the chart below, with Meta Platforms META, +1.29% leading the way. Shares of the Facebook holding company plunged 26% on Oct. 27, bringing the 2022 decline to 71%.
There was tremendous action for Big Tech stocks this week as quarterly financial results were released. Here’s a selection of reporting and analysis: An activist pushes for change at an LSD company Ciara Linnane and Steve Gelsi interview an activist investor pushing for change at MindMed MNMD, +4.14%, whose CEO punches back. The New York-based biotechnology company develops psychedelic-inspired therapies for addiction and mental illness.
Changes to credit scores in the housing market The U.S. mortgage market is effectively nationalized, with Fannie Mae and Freddie Mac direct wards of the state and purchasing nearly all newly originated mortgage loans.