In Tuesday’s Blitz Daily, we’re looking at beaten-down social media company Facebook as traders return to pick up even more calls on the stock.
Facebook has been in hot water lately, and its share price has suffered for it. First, there was the “60 Minutes” segment about the company’s failure to curb the spread of misinformation and hate speech circulating on its site.
And on Tuesday, news broke that Facebook agreed to pay over $14 million to settle worker discrimination claims.
The stock has dropped well below both its 20- and 50-day moving averages, but it seems traders believe the worst is over... Because they came in buying size!
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