2014-05-08

The stock market seemed to be functioning normal and facing regular intervals of ups on down on Wednesday but the tech stocks have been seing trouble and continue to drop as the week progresses.

The Dow Jones industrial average and Standard & Poor’s 500 indexes both climbed as they saw 0.7% and 0.6% gains respectively but the tech-heavy Nasdaq composite index was the lowest gainer on Wednesday as the index only raised 0.3%.

But for the tech stocks, the story has been very different. Once high-flying stocks like Twitter, Apple Amazon, AOL, Facebook, Groupon and Yahoo are all seen a drop in their share price over the past few weeks.

Twitter shares dropped almost 4% as the shares of the tech company had dropped 17% on Tuesday.

Shares of the digital media and advertising company AOL dropped 21% and closed at $34.85.

Groupon shares dropped 6% in the after-hours trading on Tuesday and ended 21% down on Wednesday as they closed at $5.33.

Yahoo, who are looking at good amount of cash coming in from the Alibaba IPO, dropped their share value 6.6% and closed at $34.07.

Apple, the tech giant that is soon to release iPhone 6, saw a drop of 0.4% as the company stock went below the $600 mark they had reached earlier and closed at $592.33.

Stocks of the online marketplace Amazon dropped 1.6% down and closed at $292.71.

Facebook, who were once considered to be among the top high-flying stocks dropped 2% as the stock price lowered to $57.39.

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