Just two weeks after Facebook's (FB) - Get Facebook, Inc. Class A Report unexpectedly poor second-quarter report caused its stock to plummet 19% in a day and dragged down other large-cap tech stocks with it, tech stocks are enjoying a strong run, with the Nasdaq up every single day in August so far.
Since the beginning of the month, Facebook shares have rebounded more than 8%, while its fellow FAANG stocks have also performed well. Apple (AAPL) - Get Apple Inc. (AAPL) Report is up more than 9% in August, Amazon (AMZN) - Get Amazon.com, Inc. Report is up 6%, and Alphabet Inc. (GOOGL) - Get Alphabet Inc. Class A Report and Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report are both up about 3%. Apple's strong report after the close on July 31 helped spark the turnaround.
For the month, the Nasdaq is up roughly 2.3%.