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Oskarkami
2021-05-27

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Here's why hedge fund manager Dan Niles likes Facebook as a reopening play

Hedge fund manager Dan Niles said he likes Facebook shares as a reopening play and added a streaming

Here's why hedge fund manager Dan Niles likes Facebook as a reopening play

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If you look at Viacom...that’s an incredibly cheap way to participate in streaming,” Niles said.Shares of streaming giant Netflix were last down more than 7% so far this year, while Viacom shares were up about 15%The hedge fund manager also hasMagna, a manufacturer of mobility tech for automakers, in his portfolio as a cheaper alternative toTeslain the electric vehicles sector.“Instead of EV with Tesla, we like Magna,” Niles said. “That helps protect the portfolio as well.”Niles said he believes the fair value for Tesla shares, which were last trading at more than $624, is “quite a bit lower.” Shares of Magna were last trading at $100.08.","news_type":1},"isVote":1,"tweetType":1,"viewCount":233,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}