#STAFF FOCUS PRODUCTS META STOCK PLUNGES DRIVERS#
#STAFF FOCUS PRODUCTS META STOCK PLUNGES CRACK#

Long-term support levels underneath lurk at $89.37, $72.00, and $54.66. The weekly volume has been the heavy surpassing levels reached during January and February 2022.

#STAFF FOCUS PRODUCTS META STOCK PLUNGES CRACK#

META proceeded to crack below the $100 whole number level towards $97s where it hasn't traded at since February 2016. The weekly 20-period exponential moving average (EMA) resistance continues to fall at $153.98 followed by the weekly 50-period MA at $211.26. The weekly chart attempted a market structure low with a buy trigger set above $137.84 on the week before earnings release, only to have early buyers get rug pulled when it broke below the $123.02 support level. And it's often going to take a few versions of each product before they become mainstream, but I think that our work here is going to be of historic importance and create the foundation for an entirely new way that we will interact with each other and blend technology into our lives as well as the foundation for the long-term of our business.'

#STAFF FOCUS PRODUCTS META STOCK PLUNGES DRIVERS#

This has also spooked investors into unloading shares as he detailed the pain to come, 'We expect Reality Labs expenses will increase meaningfully again in 2023, with the biggest drivers of that being the launch of the next generation of our consumer Quest headset and hiring that has been done in 2022, but for which we are going to be paying the first full year of salaries next year.' He concluded, 'There is still a long road ahead to build the next computing platform, but we are clearly doing leading work here. However, his obsession with the Metaverse has investors concerned as the only one who can hit the brakes on this investment is Mark Zuckerberg. His leadership led the Company to grow into the world's largest social media platform. Total monthly reach has grown to over than 3.7 across its Family of Apps.ĬEO Zuckerberg owns 90% of the voting rights for Meta. This is the ace up the sleeve that could spike both top and bottom lines once monetized. Its WhatsApp application hasn't been monetized yet but sports more than two billion daily users.

Although Reels has crossed the $1 billion annual run rate, the worth rate of monetization is much slower than Feed or Stories resulting in a $500 million headwind next 12 months to 18 months. Reels has grown to over 140 billion clips across both Facebook and Instagram, up 50% in six months. Instagram has over two billion monthly active users (MAUs). Their flagship Facebook saw its highest-ever traffic of nearly 2 billion people using its platform daily.

While social media networks like Twitter, Pinterest (NASDAQ: PINS) and Snap report their metrics in the millions, Meta Platform's metrics are reported in the billions and engagement remains robust. Meta shares are providing a bargain opportunity for investors that have been waiting for a pullback. However, the strong engagements underscore that Meta is not becoming the Myspace of social media any time soon. Reality Labs contributed to the 19% jump in Research & Development expenses. In fact, Zuckerberg cautioned that the losses in its Reality Labs segment which is dedicated to the Metaverse would continue to grow 'significantly' in 2023. Investors expect CEO Mark Zuckerberg would take heed and pump the brakes on its spending, but that's not even in the equation.

Ad spending has been falling as evidenced by the results for Snap (NASDAQ: SNAP) and Alphabet (NASDAQ: GOOGL), which saw its YouTube ad sales fall (-2%) in the last quarter. Market didn't mind the money-losing investment when indexes were hitting highs in a raging bull market, it is extremely upset as the rate of spending continues higher in light of weakening macroeconomic headwinds in a bear market. Perhaps the biggest concern driving shares lower is the unfettered determination of CEO Mark Zuckerberg to literally go all in on Metaverse investments. Engagements were strong across all its applications. dollar make a $1.79 billion impact on revenues and is expected to make a (-7%) impact in the next quarter. While the earnings miss has investors concerned, the revenues came in better than expected by nearly $300 million. Social media developer Meta Platforms (NASDAQ: META) stock took a (-24%) cliff dive after its Q3 2022 earnings miss.

Staff focus products meta stock plunges