Short

FB stock seems broken

Updated

Broke below my support of $219, sold my calls for a loss, went short. Seems every single day since ER nothing but more bad news piling on to this from lawsuits, to privacy, threatening to shut down in EU, competition, to Apple and now today's announcement of Google's IOS changes. Whistleblower claims about fraud regarding value. I was looking for a bounce to $240-260 but seems every rip is to be sold $241, $233, $225, $221 lower highs and lower lows. Yes, they appear to be profitable, for now. Yes they have 60b in cash but their bets are the metaverse are far off. I believe this stock will be under $180 soon. Facebook hasn't been "cool" for many years, mostly people complaining, the next generation doesn't want it, and like many bashers say this could be myspace in 2007. It rebounded half of it's loss with the market, but it's been doing this daily. Time will tell......!

finance.yahoo.com/news/frances-haugen-why-meta-stock-plummeted-171204386.html

cnn.com/2022/02/15/tech/facebook-internet-tracking-settlement/index.html

npr.org/2022/02/15/1080769555/texas-sues-meta-for-misusing-facial-recognition-data

Trade closed manually

Sold puts on the drop just above $200. Ultimately I believe it'll bottom $180-190 but it's been red so many days it's bound to bounce soon

ShortSeller76

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