Solid News

Meta Platforms Poor Growth Prospects

9/20/2022 3:47 PM

Shares of Meta Platforms Inc., which owns the largest social network in the world, are moving within a corrective trend, around 148.00.

The issuer remains under serious pressure from the supervisory authorities. According to Reuters, US senators are working on a bill that would create a kind of licensing for social networks and include a set of rules that would limit the rights of resource management to remove user content freely. This issue began to move much more active after the hearings of the dispute between Elon Musk and Twitter Inc., during which significant problems in the operation of the Internet platform were revealed. Analysts are worried about the fate of Instagram and Facebook, as the decline in browsing traffic for these networks has accelerated significantly in the second quarter: according to an August report, the time spent by users on Instagram decreased by 8%, and users spent 4% less time in all Meta services, which reflects the negative dynamics for the second month in a row.

The corporation's financial report will be released on November 2. According to preliminary forecasts, the company's revenue could continue to fall for the third consecutive quarter, amounting to 27.62B dollars, down from 28.82B dollars a quarter earlier, and earnings per share are expected to be at the lowest level since the first quarter of 2020 – 1.93 dollars.

The trading instrument is moving within a global downtrend, approaching the support line.

Technical indicators maintain a stable sell signal: fast EMAs of the Alligator indicator are below the signal line, and the AO oscillator histogram forms downward bars in the sell zone.

Resistance levels: 154.50, 180.00. | Support levels: 144.60, 130.40.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022