1 Internet Stock with Competitive Advantages and 2 We Find Risky

Consumer internet businesses are redefining how people engage with the world by giving them instant connectivity and convenience.

This influence cuts both ways though because they have high exposure to the ups and downs of consumer spending, and uncertainty surrounding this factor has capped the industry’s returns - over the past six months, its 10. 1% gain has lagged the S&P 500 by 6. 2 percentage points.