“Shares of Facebook owner Meta Platforms drove a surge of options trading Thursday, as some investors positioned for a quick rebound in the company’s stock“–Paul Ebeling
Thursday, retail investors enthusiastically are buying the dip in Wall Street’s biggest growth companies as the US stock market dove following Facebook owner Meta Platforms Inc’s disappointing Quarterly report.
Investors on Fidelity’s online trading platform placed 4 buy orders for every sell order, with the social media company topping the list of most-traded stocks.
Meta’s stock slumped 25% after the social media heavyweight gave a dismal forecast late on Wednesday, blaming Apple’s privacy changes and increased competition.
The deep dive erased over $200-B of Meta’s stock market value, and also sparked drops in other growth stocks that have soared in recent yrs.
Meta’s revealed that its user growth has slowed a lot. And in the case of daily active Facebook users in particular, the company actually lost 1-M users.
On Reddit’s wallstreetbets stock trading forum, positive sentiment for Meta beat negative by about 1.4 to 1 during the past 24hrs.
Have a prosperous day, Keep the Faith!