The Invesco S&P 500 GARP ETF is seeing unusually high volume in afternoon trading Monday, with over 257,000 shares traded versus three month average volume of about 122,000. Shares of SPGP were up about 0.3% on the day.
In this video, I will be talking about the announcement made by Meta Platforms' (NASDAQ: FB) Chief Operating Officer, Sheryl Sandberg, that she is leaving the company after 14 years -- and why this shouldn't scare you away from investing in the tech giant.
The U.S. Supreme Court on Monday asked President Joe Biden's administration to weigh in on whether the justices should hear a case on whether Meta Platforms Inc's WhatsApp can pursue a lawsuit accusing Israel's NSO Group of exploiting a bug in the messaging app to install spy software.
As Apple Inc rolls out its usual stream of upgrades to operating systems for its iPhones, iPads and Macs at its annual software developer conference Monday, analysts and developers will be scouring between the lines for any hints about how a future mixed-reality headset might work.
Wall Street was set to open higher on Monday after a drop last week, with U.S.-listed shares of Chinese technology companies rallying on optimism around easing regulatory crackdowns and relaxing COVID-19 curbs in the world's second-largest economy.
Uncertainty has been the name of the game recently, as the stock market continues to face an immense amount of pressure from high inflation, rising interest rates, and economic impacts linked to the war between Russia and Ukraine. It comes as no surprise that technology stocks ha
Wall Street futures bounced on Monday, with U.S.-listed shares of Chinese technology companies leading the gains on optimism around easing regulatory crackdowns and relaxing COVID-19 curbs in the world's second-largest economy.
As Apple Inc rolls out its usual stream of upgrades to operating systems for its iPhones, iPads and Macs at its annual software developer conference Monday, analysts and developers will be scouring between the lines for any hints about how a future mixed-reality headset might work.
Social media giant Meta Platforms (NASDAQ: FB), earlier known as Facebook, will begin trading on the NASDAQ under the ticker symbol META from June 9, replacing the current ticker FB. Shares of the company are down 43% amid a broader tech sell-off, and concerns about slowing advertising revenue due to rising competition from apps like TikTok and Apple’s (AAPL) iOS privacy policy changes.
That said, Meta continues to focus on its future growth and is investing billions of dollars in rebranding itself as a Metaverse tech company.
Wall’s Street’s Take
In reaction to Meta’s recent announcement of the departure of long-time COO Sheryl Sandberg in fall this year, Mizuho analyst James Lee acknowledged that Sandberg's “vision” in digital advertising and her experience in guiding the company through transitions, including mobile, video and stories, will be challenging to replace. That said, Lee believes that “the depth of Meta's bench should provide a smooth transition.”
The analyst opined that Meta’s “established infrastructure and technology” should help in its transition to products such as Instagram Reels and Metaverse-related opportunities. Lee reiterated a Buy rating on Meta Platforms with a $325 price target.
Overall, the Street is cautiously optimistic on the stock with a Moderate Buy consensus rating based on 26 Buys, eight Holds, and one Sell. The average Meta Platforms price target of $276.88 implies 45.13% upside potential from current levels.
Conclusion
Several analysts continue to be optimistic about Meta Platforms’ long-term growth story, despite the impact of near-term headwinds on its stock.
There's no doubt about it: This has been a challenging year for the investing community. Since the curtain opened on 2022, the storied Dow Jones Industrial Average and benchmark S&P 500 have dipped into correction territory (a decline of more than 10%), while the technology-f
Last week, the Nasdaq Composite index managed to end a seven-week losing streak, generating its first positive week of trading since early April. Even with last week's rally, the Nasdaq is still in bear market territory (it's down 25.3% from all-time highs set in November). One s
After more than a decade of spearheading Facebook's most important initiatives, Sheryl Sandberg will soon relinquish her position as chief operating officer of Meta Platforms (NASDAQ: FB).
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What happened
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