It's been a brutal week for investors in the tech space.
The NYSE FANG+ index was whipped on Wednesday by 2.1%. On, Tuesday the index got smashed by 5.6%. The move to the downside has reflected concerns over Facebook (FB) - Get Report CEO Mark Zuckerberg upcoming testimony in front of lawmakers opening the floodgates to tech regulations. Facebook is a holding in Jim Cramer's Action Alerts Plus.
Not helping sentiment was a fresh negative call on Twitter (TWTR) - Get Report by noted short seller Andrew Left of Citron Research. Further, tech darling and Action Alerts Plus holding Nvidia (NVDA) - Get Report said Tuesday it would suspend its self-driving car tests.
Said BlackBerry CEO John Chen about the tech stock rout, "Given the fact the market has been in a bull market for so long, and the high-fliers have seen a really big return, I think what we are seeing is a quick knee-jerk reaction of to many things going on."
Chen added, "Tech [stocks] will come back because technology does represent high value and a lot of good things on in the future in robotics and analytics."
Chen also weighed in on data protection in light of the Facebook data breach. Watch below.