Two nonprofits are mobilizing to push shareholders to remove Facebook, Inc. (NASDAQ:FB) CEO Mark Zuckerberg from his post as chair of the tech giant’s board
Ahead of Facebook’s shareholder meeting at the end of May, the civil rights group Color of Change is harnessing the power of its 1.5 million members in partnership with investor advocacy organization Majority Action to educate the company’s independent shareholders and urge them to vote ‘no’ on Zuckerberg remaining as board chair.
“Facebook’s governance structure is a threat to the civil rights of its Black users and to the financial interests of its shareholders,” said Rashad Robinson, president of Color of Change, in a statement provided to Fox News. “Lasting change to address the misinformation, discrimination, violent movements and data breaches that put users, especially Black users, at risk cannot be subject to the whims of a single person….Shareholder value is threatened by the company’s failure to make fixing civil rights violations an operational priority.”
Zuckerberg, who has recently said the social network is moving toward a focus on encrypted, private communication, wields enormous power at the company he founded. Since his Class B shares have 10 votes per share compared with Class A shares that only have one vote, the mogul controls nearly 60 percent of the company’s stock, giving him enormous control over Facebook’s board of directors. The two groups pushing for shareholders to vote against his board chair appointment are in essence calling for more checks and balances.
Last year, a similar proposal to vote no on his continued appointment as board chair was supported by 35 percent of independent shareholders — including New York City Pension Funds, Wells Fargo Funds Management LLC, OppenheimerFunds, Inc., and the Ohio School Employees Retirement System.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 177.79.
The projected upper bound is: 198.44.
The projected lower bound is: 182.11.
The projected closing price is: 190.27.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 23 white candles and 26 black candles for a net of 3 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 49.8583. This is not an overbought or oversold reading. The last signal was a sell 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 60.88. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 17. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -4.110 at 189.770. Volume was 17% below average (neutral) and Bollinger Bands were 17% wider than normal.
Open High Low Close Volume___
192.540 192.900 187.850 189.770 16,253,001
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 192.02 175.20 161.69
Volatility: 40 29 49
Volume: 23,067,912 17,639,644 24,423,048
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FACEBOOK INC A is currently 17.4% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of FB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 24 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- The Top 10 Beach Resorts in the World - May 25, 2019
- The 10 Most Luxurious All-Inclusive Resorts in the World - May 25, 2019
- The Top 10 Landmarks in Paris - May 25, 2019