![]() ![]() This typically means that buying interest is fairly subdued. The Relative Strength Index ( RSI) was standing at 54.88 (neutral) and had not moved to overbought levels in months. The META technical analysis indicated that momentum remained unfavourable. However, the stock was trading nearly 50% below its 52-week high and 30% below its 200-day Simple Moving Average. The start of July saw a more favourable turn as META stock hit an uptrend amid the volatility, rising 11.93% from 20 June, as of 20 July. According to the company: “The new ticker symbol aligns with the company’s rebranding from Facebook to Meta.” On, Meta Platforms announced it was changing its ticker symbol to ‘META’, replacing the previous ticker ‘FB’ which had been used since the company’s initial public offering ( IPO) in 2012. This was the first time that such a deceleration had occurred for many years, with shares falling more than 26%. The decline accelerated in November and peaked in February 2022 after management made downbeat comments about the company’s future growth and Meta Platforms reported a slight decline in Facebook’s daily active users (DAU) in Q4 2021. Meta Platform’s downtrend began in September 2021 when the pandemic tailwind that had lifted the business’s performance faded on the back of mass vaccinations. Meta Platforms stock analysis: Technical views and price drivers Javier Olivan, the company’s chief growth officer, will take the lead, although Sandberg’s functions will be spread across the organisational structure, as part of a new scheme Meta Platforms CEO Mark Zuckerberg has devised to run the business more effectively. META stock also slightly declined on 1 June after the company announced that COO Sheryl Sandberg was stepping down after nearly 14 years at the helm. Meanwhile, macroeconomic conditions in the US have worsened amid a high inflation rate of 9.1% that has prompted a risk-off attitude among market participants. Meta Platforms, formerly known as Facebook, has cited multiple headwinds that could negatively affect the business’s financial performance in the near term, including changes to Apple’s iOS privacy features and increased competition from other platforms such as TikTok and Snapchat. The stock’s losses have almost doubled those of the tech-heavy Nasdaq 100 ( US100) Index as confidence in the company’s ability to keep growing, after its drastic pivot toward the metaverse, is not at its highest point. As of 20 July, META was up 11.93% from the previous month, but down 48.08% year-to-date ( YTD). Meta Platforms’ (META) stock performance has seen a little respite amid what has been a rather bearish year so far.
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