In Wednesday’s Blitz Daily with Lance Ippolito, we look at social media giant Meta Platforms as shares bounce off 52-week lows after a 30% bloodletting since Feb. 2.
What goes down eventually goes back up again — or at least that’s what some traders are thinking Wednesday as they pile into Meta stock options.
It’s been a gut-wrenching few days for the recently rebranded parent company of Facebook after a disastrous Feb. 3 earnings report. Revenue came in under analyst expectations and shareholders abandoned ship, sinking the once-revered growth stock by 26%. All told, the $119 billion loss is the largest single-day drop in stock market history.
Adding insult to injury, shares continued to sell off across the next three sessions… But thankfully, the slide came to an end Wednesday. Shares of the beleaguered tech firm bounced more than 5% as traders looked to get their piece of one of the biggest dips of all-time!
But if you’re not ready to call the bottom for Meta, don’t worry. I have two more massive options trades hitting the tape Wednesday…
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