Last week, Facebook (NASDAQ:FB) announced its Q-1 results, the company said it had set aside $3-B to pay for an expected fine of between $3 to 5-B from the Federal Trade Commission (FTC), and then the company’s share price rose by more than 10.
The take-away: $3 to $5-B is pocket change to Facebook. Or, as the NY-T’s put is, that is a parking ticket.
Investors do not seem to care about the amount of the FTC’s threatened fine, so why should Facebook. Because for Facebook to some pain and reform that fined would have to $50-B or more.
And Hey, FB’s users do not care either.
The social media giant’s user numbers in Q-1 rose Y-Y by 8%, both for daily active users to 1.56-B, and for monthly active users to 2.38-B.
So, if the users do not care why should Facebook care?
HeffX-LTN’s overall technical outlook for FB is Bullish to Very Bullish, with deep support and virtually no overhead resistance.
FB closed Wednesday in NY at 193.03 against a consensus price target at 220.79.