Facebook's gloomy ranking hasn't yet knocked its stock price. Shares rocketed to record highs at the end of July after the company
for profits and revenue. The healthy results come despite the coronavirus pandemic slamming advertising revenues. Facebook partly offset the spending slowdown with a 12% year-over-year growth in monthly active users.Morgan Stanley breaks down 4 reasons why the next stock bull market is just getting underway — and lays out the best investing strategy for taking advantage
Analysts also feared a July advertiser boycott would weigh on profits. More than 1,100 companies and organizations pulled spending from the platform last month, pressuring Facebook to better police hate speech and misinformation. The company's stock tumbled in late June as the boycott's following grew, but the losses have since been erased.raised its price target for the shares to $290 from $265 following the report and praised Facebook's sturdy revenue streams.
"While COVID-19 disruptions, content controversy, ad boycotts, and privacy changes make for difficult headlines and [near-term] revenue risk, FB continues to show sustainable growth through uncertain times," analysts led by Justin Post wrote in a note.Billionaire investor Paul Tudor Jones famously earned a 4-year streak of triple-digit returns. Here are the 7 trading rules he lives by after suffering a devastating loss.
Though the boycott didn't keep Facebook from beating estimates, it may have dented the stock's appeal. When asked to rank the FAANG components in order of which they'd like to own the most, more than half of respondents deemed Facebook the tech mega-cap they'd least like to own.Now read more markets coverage from Markets Insider and Business Insider:
Millenials say that Facebook is for older people. Then they turn around and check their Instagram and Whatsapp accounts.....
LMAO. All they do is pump out profit.
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