Adobe Inc.

Alphabet Inc. Class A Common Stock

Meta Platforms, Inc. Class A Common Stock

Snap Inc.

SPDR S&P 500 ETF Trust

- Consumer spending hasn't fully corrected (people are still paying for more streaming services than they need 😅)
- As companies cut software and ad spend the companies they were paying for unneeded seats and paid acq for will have decreased earnings ($GOOGL,  $ADBE,  $META,  $SNAP,  etc)
- Many institutions have already reacted to this, but there will be continued selling pressure

Eric Pelnik

Looming decrease in spending to further impact the market

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