Quote:
Originally Posted by rickroll
oh no, i recently bought more
care to elaborate a bit, i'm all ears
No amazing insight, just think that everything that caused their crash is going to look worse this time.
Zuckerberg has been pretty upfront that he realizes the main FB app has hit its peak, and they’re going to plow all in on Metaverse.
They lost users for the first time ever last quarter. Very little chance of that going up. Their growth recently is all international and with war and virus concerns over the last quarter, seems unlikely to get a boost there.
So burning cash on new products + slight decline of user base is likely. Earning estimates getting revised down in multiple spots.
Mostly it’s a bet that the market is in a mood to overreact though, everyone looking for bad news. I’m actually bullish on the whole Metaverse deal long term and think they make so much cash they’ll be able to take a legit shot at it + their P/E is down to like 15 which seems like a steal. Short term though I like it for a dip.
Might’ve lost my chance though. Looks like too many people had the same idea after seeing Netflix drop. Was gonna pick up some 200 puts, but looking too expensive on open today.