Is Meta $META on sale? 😄
Admittedly a minor drop, but it comes after an interesting report. Meta has been fined a record $1.3 billion by the European Union for sending user data to the US. The fine comes after regulators said Meta failed to protect personal information from US security services.
I don't think they'll ban it across the US, I could see people taking to the streets over it or then someone bringing it up at the polls as their agenda to bring it back :D if that happened $META has the perfect override.
I also don't find$META attractive at the moment, although I used to own shares of the former $FB, I think the company will go lower and lower over time, I don't see anything that would pull me to invest for the long term. I especially think Meta stock needs some cooling off at the moment after the big run up. The target price doesn't seem entirely realistic to me either.
Immediately after the market opened I closed my position on $META
It was a buy from last night - a strangle (option strategy - you buy one call and one put). To make a profit on this trade, there has to be a really significant move in the stock.
Given that Meta stock opened at a plus 14% after the beat, that was enough to give my position a 300% appreciation.
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The growth in recent months is really enormous. On the other hand, the stock is catching up with the earlier declines and is slowly regaining the limelight. Unless they sink all the money in Reality Labs and can profit from it gradually, this will be a good stock. But it's pretty expensive now.
📢Today, $META will report its results after the close of the markets. According to analysts, the company is struggling with weak demand for advertising, which has caused the company's revenues to stagnate. Analysts here are expecting revenues of $27.7 billion, which will mean continued stagnation.
So what's your take on this company? Do you think all the growth has been...
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I'd like to buy the Meta already, but unfortunately it's still not at that price. And this information hasn't moved the stock price much either.