Ask anyone who invests in tech stocks for a description of what they’re like and the answer you’ll most likely receive is that they’re volatile, meaning to vary often or widely.
One of Yahoo’s oldest web sites, Yahoo! Finance (YHOO), is a good place to check on how tech stocks are doing. You can also perform quick stock searches by searching for the symbol on Google, ex. searching for GOOG.
Side note: Speaking of the GOOG, they might be purchasing Twitter, so that will be an interesting one to follow.
To those interested in tech stocks, or any stocks for that matter, but have no idea how they would perform or how to go about investing, I always suggest playing fantasy stock market. This is fun, easy and most of the time free so it requires no investment on your part.
Here’s a few suggestions if you want to play the market fantasy-style:
- FantasyStockMarket.com – Simple site, easy to navigate and get started.
- Virtual Stock Exchange – This is run by MarketWatch, a well-known finance site.
- Wall Street Survivor – This one has an interesting twist because you can actually win real cash and prizes here, so the game itself can actually be profitable.
Why play fantasy with tech stocks instead of doing the real thing?
The answer is to gain experience before taking the plunge, so to speak. Some people say tech stocks are totally worth it while others say it’s a complete waste of time and money, and far too unstable. However with the experience gained from fantasy playing, you can answer the question for yourself whether or not they’re worth it – free.
What’s your take? Would you or do you invest in tech stocks?
Does it sound like a boom or bust? Let us know in the comments.
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Actually, Google Finance is much better than Yahoo Finance. I used to use Yahoo Finance a lot…its true. http://www.google.com/finance
Trading stocks in the tech sector is not really any different than trading stocks in any other sector. The same principles apply and the volatility has been high for all sectors. Want to know what the sectors are? Go here: http://www.smartmoney.com/map-of-the-market/
Its really good to practice before investing. But before doing that you must educate yourself about how the market works and how business works. Otherwise all you are doing is playing an imaginary lottery if you do not understand how it all works. It takes time and due diligence on your part to learn. A stock market simulation, although fun, will not teach you much of anything if you never learn the principles behind how the market and how publicly traded corporations work.
Also, its really hard to make generalizations about tech stocks. There are some really good profitable companies with share prices lower than their growth or profits reflect and then there are some really horrible tech companies that should be left to die on their own whose stock I would only consider shorting.