Facebook changes News Feed, investors click on 'sad' - News Summed Up

Facebook changes News Feed, investors click on 'sad'


"There is too much uncertainty relating to the economic impact of Facebook's pending News Feed changes for us to be comfortable retaining a Buy rating on the stock," wrote Stifel analyst Scott Devitt in a research note, cutting his recommendation to "hold" from "buy. Its revenue is expected by analysts on average to have surged 45 percent in 2017, a rare accomplishment for a company of its size.Some hedge funds used Friday's drop in Facebook's stock to bolster their positions, said Joel Kulina, a senior trader at Wedbush. "Guys were hoping there would be more of a pullback so they could buy more," Kulina said. "They don't think there are any real cracks in the Facebook story. But a sustainable solution to the challenges of the new information ecosystem requires further measures," he said.


Source: Economic Times January 12, 2018 20:15 UTC


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