Today's news is rife with social media giants. While Twitter ($TWTR) is being delisted today following Musk's successful acquisition last night, investors have shifted their focus to Meta ($Meta). The owner of Facebook, WhatsApp and Instagram reported sinking earnings this week, causing Mad Money's Cramer to apologize for wrongly assuming positive momentum back in June and CEO Zuckerberg's net worth to slump 100 billion in only 13 months.
We took a look within our analytics to see what this might mean for the stock:
TC Market Buzz is detecting strong negative news sentiment around popular Tech stocks
Created with Trading Central’s proprietary, analyst-trained natural language processing and sentiment algorithm, the sentiment score indicates how the crowd feels about a particular stock. Today, we can see Meta Platforms’ sentiment is very negative. The high confidence level indicates this sentiment is felt across a large number of social media, news and blog sites.
The subjectivity index, which measures how rational the crowd’ opinion of the stock is very high suggesting the psychology of traders in META may be irrational.
Regarding the total news sentiment, the volume of news sentiment backing the sentiment score is high which means we have high confidence in the scoring.
Digging in to TC Fundamental Insight, we see a very weak momentum rating due to bearish price momentum.
Meta platforms (META) is down a whopping -70.3% YTD.
The intraday trend outlook is also negative according to TC Technical Views, where we see a potential decline towards the $85.50- $85.60 price range.