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The industry is also facing the risk of heightened regulatory measures. Congress is considering new legislation to monitor tech companies on issues ranging from privacy to age restrictions. Two antitrust bills have been proposed—one from Energy and Commerce Chair Frank Pallone and another from Senators Amy Klobuchar and Chuck Grassley—to guard against the spreading harmful information and to prevent tech companies from giving an advantage to their products over competitors’.
Given this backdrop, popular tech stocks PayPal Holdings, Inc. (PYPL), Activision Blizzard, Inc. (ATVI), Roku, Inc. (ROKU), and Robinhood Markets , Inc. (HOOD) were recently downgraded by analysts.
