Followers | 679 |
Posts | 140793 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Monday, March 09, 2020 5:25:41 PM
By: Schaeffer's Investment Research | March 9, 2020
• The Australian privacy regulator just accused Facebook of sharing the personal details over 300,000 users without their knowledge
• The social media giant is ripe for analyst downgrades
Twitter isn't the only social media name in focus today, with investors turning their attention toward Facebook, Inc. (NASDAQ:FB) following reports that the Australian privacy regulator just sued the tech giant over allegations that it shared personal details of over 300,000 people with market researcher Cambridge Analytica without permission. FB has extended its dramatic dive lower today, off 6.11% at $170.04 after hitting a nine-month low of $165.19.
Facebook's steep selloff, along with the broader market, hasn't been pretty. The stock suffers a year-to-date deficit of 17.1%, thanks in part to FB's gap below former support at the $205 region, and recent pressure at its descending 10-day moving average. What's more, the equity just came off its third-straight weekly dip, it's longest since last August.
Options bears are likely cheering these new lows. While Facebook's 10-day put/call volume ratio of 0.61 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) indicated that long calls are still outnumbering long puts on an overall basis, this ratio sits in the 95th percentile of its annual range. This means there has been a much bigger appetite or these bearish bets of late.
Short interest has also been inching higher, up 4.2% in the last two reporting periods, though there's still plenty of room of the bearish bandwagon. The 1.8 million shares sold short represent a slim 1.1% of the stock's available float, or less than two days at its average pace of trading.
A round of analysts upgrades could stir up even more headwinds on the charts too. Twenty-seven of the 29 in coverage consider FB a "buy" or better, while there isn't a "sell" to be seen. Plus, the consensus 12-month price target of $245.65 is a lofty 44.1% premium to current levels.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent META News
- Apple Loses Market Share in China, GM Surges in Pre-Market Following Upward Revisions for 2024 Projections, and More News • IH Market News • 04/23/2024 11:25:34 AM
- Paramount’s Shares Surge Following Sony and Apollo’s Joint Bid; ISS Backs Berkshire Hathaway Director Re-election, and More • IH Market News • 04/19/2024 11:31:22 AM
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- Ericsson Soars with 66% Net Profit Growth; Live Nation Under Antitrust Scrutiny in US, and More News • IH Market News • 04/16/2024 11:18:19 AM
- Meta to temporarily close Threads in Turkey • IH Market News • 04/15/2024 06:49:59 PM
- Samsung Surpasses Apple in Q1 Smartphone Market; Salesforce in Talks to Acquire Informatica, and More News • IH Market News • 04/15/2024 11:06:48 AM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News • IH Market News • 04/11/2024 11:24:54 AM
- Delta Generates US$37 Million Profit in Q1, Google and Intel Unveil Cutting-Edge AI Chips, and More News • IH Market News • 04/10/2024 11:13:48 AM
- Tesla Resolves Autopilot Lawsuit, JPMorgan Unveils Potential CEO Successors, and More • IH Market News • 04/09/2024 10:39:30 AM
- Boeing Down in Pre-Market Due to CEO Developments and Denver Incident; MicroStrategy Surges 11% with BTC Spike, and More • IH Market News • 04/08/2024 11:17:49 AM
- Apple Terminates 614 Employees, Disney Unveils June Crackdown on Password Sharing, and More Updates • IH Market News • 04/05/2024 11:38:57 AM
- Exxon Mobil Forecasts Earnings Decline, Twilio Seeks Board Tenure Changes, and More News • IH Market News • 04/04/2024 11:30:20 AM
- Meta to Announce First Quarter 2024 Results • PR Newswire (US) • 04/01/2024 08:05:00 PM
- Super Micro Computer and Seagate Shares Surge on Analyst Optimism in Pre-Market Trading, and Latest News • IH Market News • 03/26/2024 11:20:49 AM
- FedEx Soars 13% with Profits Above Forecasts, Nike Hit by China Slowdown, and Latest News • IH Market News • 03/22/2024 01:07:53 PM
- Apple Pre-Market Drop Due to Antitrust Threats, Surprising Profit Boosts Micron Shares, and Latest Market Updates • IH Market News • 03/21/2024 11:17:26 AM
- JPMorgan boosts dividends, Chipotle unveils 50:1 stock split, and Latest News • IH Market News • 03/20/2024 11:15:48 AM
- Meta says can cut monthly Facebook, Instagram fee to €5.99 • IH Market News • 03/19/2024 10:51:43 AM
- Apple & Google in Talks for Gemini AI on iPhone, Nvidia’s GTC Conference Today, and Latest News • IH Market News • 03/18/2024 11:10:46 AM
- Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News • IH Market News • 03/13/2024 11:02:03 AM
- Oracle Soars 13% With Exceptional Growth and Boosts Nvidia Shares With Collaboration Announcement, and More • IH Market News • 03/12/2024 11:21:35 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 08:50:04 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/08/2024 09:59:34 PM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM
Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM