Last Thursday at lunch when I checked my phone I had 3 messages from people asking me if I was buying Facebook. Across my social media I saw much of the same chatter, "Facebook can't go lower."
Be careful saying things like that.
The reality is the price of Facebook NASDAQ:FB has broken key Weekly Supports and could likely continue down to find new ones. I would also highly recommend against trying to buy Calls (especially short dated) because the Implied Volatility remains elevated (over 97% IV Percentile) meaning options will likely slowly crush in value.
Broadly the market is up today across growth and tech... and Facebook is not. Trade wisely.
Agree! Do you think Google is a good buy prior to split?
norok
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@e2daD, I think a split has in recent history been bullish for tech stocks. The split will take place on July 15th so I am being patient. I like the 2775 price for opportunity.
herouxma7000
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@e2daD, if we recall Apple and Tesla split, they rallied before split and spike right after, I guess because people got the opportunity to buy in, but it created a quick sell-off right after. This is what I remember for these splits, could be different, but likely same situation right. Our market may stabilize a bit by first week of July.
norok
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@herouxma7000, This history is exactly what informs my thesis.
herouxma7000
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@norok, I hear you, I share the same view. I'll be checking around 2 weeks prior to prep!