AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Meta stock9/1/2023 Snap CEO Evan Spiegel called the first quarter "more challenging than we had expected." The company said some advertisers had paused advertising campaigns after Russia's invasion of Ukraine in February. Other social media companies similarly pointed to macroeconomic factors impacting their advertising revenue. It expects most of that expense growth to be driven by its family of apps segment, followed by Reality Labs. Reality Labs lost $2.96 billion in the period compared with a loss of $1.83 billion in the first quarter of 2021.įacebook lowered its total expenses guidance for 2022 to somewhere between $87 billion and $92 billion, below its earlier estimate of $90 billion to $95 billion. In the family of apps business, net income dropped 13% from a year earlier to $11.48 billion. The remaining $695 million came from Reality Labs, the part of the company that's attempting to build products for the metaverse. Personal Loans for 670 Credit Score or Lowerįacebook changed its name to Meta in October, reflecting CEO Mark Zuckerberg's effort to push the company towards a future of working, playing and studying in a virtual world.įacebook's family of apps, including the core app, Instagram and WhatsApp, accounted for 97.5% of revenue in the quarter. Personal Loans for 580 Credit Score or Lower In the meantime, you can also follow me on Twitter where I share my personal trades and real-time outlook on META.Best Debt Consolidation Loans for Bad Credit However, there is still a slight chance of the price making a higher high of $320, but I won’t take that risk. The technicals and the fundamentals are pointing towards a pullback in the coming weeks. Meta shares are currently retesting the bottom trendline of the ascending channel on a higher timeframe. The reason is that the stock has already surged 134% this year, and the ongoing price action is due to the hype of the Threads App. Unlike other analysts, my Meta stock price prediction is not very bullish. These divergences often predict the top of the upward rallies. The Relative Strength Index (RSI) and the Money Flow Index (MFI) are showing bearish divergences. While it is very difficult to call the top of a bullish rally, the NASDAQ: META chart appears to be overextended. Users just need to download the app and sign in with their Instagram username and password. The ongoing surge in META stock price can be attributed to the success of the Threads app, which is already giving Twitter a run for its money. As per the latest reports, the social media app has reached 100 million users. The app reached 1 million users within just 60 minutes, making it the fastest app to hit the milestone. launched a Twitter-like app known as Threads last week.
0 Comments
Read More
Leave a Reply. |