Tech Stocks Greeted by New Realities After Rout
- Hedge funds cut their stake in FANGs by 16 million shares
- Reduction came after a 12-million share third-quarter increase
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If you’re a technology investor brushing off after the market meltdown, you might have noticed a slightly altered landscape.
Check out the winners list from the group’s rebound since Feb. 8, a roster of stars from a decade ago. Verisign Inc., the domain-name purveyor that septupled from 2002 to 2007, is up 12 percent. Open-source software developer Red Hat Inc. has jumped 14 percent. And a 15 percent gain in Cisco Systems Inc. has pushed that stock to a 17-year high.