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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFacebook is on track to post its longest losing streak ever, and some say there's more pain ahead
Facebook is on track to post its longest losing streak ever, and some say there's more pain ahead
https://www.cnbc.com/2018/11/19/facebook-is-on-track-to-post-its-longest-losing-streak-ever.html
Facebook is facing a mountain of problems.
The social media giant is poised to close its third straight month in the red, which would mark its longest monthly losing streak on record. Furthermore, Facebook is on track for its longest quarterly losing streak since 2013, and its first full year of losses since going public. According to some experts, the stock isn't done falling.
"Technically, when I look at this, there's no question that we've violated the long-term uptrend support line off of the [2014] lows. We've got some support that's going to come in right around $130, but better support coming in at $114," Craig Johnson, chief market technician at Piper Jaffray, said Friday on CNBC's "Trading Nation," adding that he would stay on the sidelines here, rather than putting fresh money to work, or "further reduce positions on it at this point."
Facebook's stock fell nearly 5 percent on Monday, hitting its lowest level since February 2017, as the social media company came under fire after a damaging report about its top management in The New York Times.
https://www.cnbc.com/2018/11/19/facebook-is-on-track-to-post-its-longest-losing-streak-ever.html
Facebook is facing a mountain of problems.
The social media giant is poised to close its third straight month in the red, which would mark its longest monthly losing streak on record. Furthermore, Facebook is on track for its longest quarterly losing streak since 2013, and its first full year of losses since going public. According to some experts, the stock isn't done falling.
"Technically, when I look at this, there's no question that we've violated the long-term uptrend support line off of the [2014] lows. We've got some support that's going to come in right around $130, but better support coming in at $114," Craig Johnson, chief market technician at Piper Jaffray, said Friday on CNBC's "Trading Nation," adding that he would stay on the sidelines here, rather than putting fresh money to work, or "further reduce positions on it at this point."
Facebook's stock fell nearly 5 percent on Monday, hitting its lowest level since February 2017, as the social media company came under fire after a damaging report about its top management in The New York Times.
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Facebook is on track to post its longest losing streak ever, and some say there's more pain ahead (Original Post)
Miles Archer
Nov 2018
OP
Maven
(10,533 posts)1. Good.
They're an evil company and I'm glad that their misdeeds are finally catching up to them. Society would be better off if Facebook never existed.
smirkymonkey
(63,221 posts)4. Exactly what I was going to say.
Completely agree with every word you have said.
ProfessorGAC
(65,361 posts)5. I Know They're Not Identical
But, as someone who never used it, what was wrong with MySpace? Wasn't that basically the same idea?
Miles Archer
(18,837 posts)6. Used to be pretty close
It's morphed into more of an "entertainment hub."
https://myspace.com
RainCaster
(10,944 posts)2. Couldn't happen to a nicer company
I am truly disgusted by all that this company has done over the years against the country that gave them the freedom to exist in the first place.
Power 2 the People
(2,437 posts)3. I wouldn't pay a penny for this POS stock