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How to Trade Facebook After Wedbush Cuts From Best-Ideas List

Facebook  (FB) – Get Report on Thursday was cut from the Wedbush best-ideas list, which didn’t move the stock much. 

But the shares are below their monthly risky level at $181.39, which was nearly tested on April 14. And therein lies a column for investors in the social-media icon.

Facebook’s removal from the list was caused by a slump in advertising revenue stemming from covid-19. Here’s the full story as posted on TheStreet.com.

The stock set its all-time intraday high of $224.20 on Jan. 29, then traded as low as $137.10 on March 18. This put the stock deep into bear-market territory, 38% below the high.

Facebook beat earnings-per-share estimates in the past two quarters but missed in the prior two quarters. 

Earnings do not matter that much when the world is worried above the spreading of covid-19.

The stock is not cheap. Its price-to-earnings multiple is 27.7 and the company does not pay a dividend, according to Macrotrends.

The Daily Chart for Facebook


Credits: Thestreet

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