Is Meta Platforms’ — formerly known as Facebook — better-than-expected, first-quarter earnings report all it's cracked up to be? I have a hunch that it’s not…
Shares of Meta jumped about 18% on Wednesday after the company reported earnings that exceeded expectations, but the revenue was disappointing. Daily active users, which dropped in Q4 for the first time, rose a little from 1.93 billion to 1.96 billion.
Revenue came in at $27.91 billion versus the expected $28.2 billion.
Well, the stock popped because people have been shorting it like crazy since the devastating Q4 earnings report in February that sent it crashing 26%.
But I’ve never put much credence into the amount of daily users Meta reports (which is probably BS). The real problem with this social media platform lies in its ad spends.
One of the best ways to avoid Wall Street screwing us over is by following where the money is flowing.
The market is like this big ocean with several different currents moving through it at all times. But one of the strongest currents is the money that flows from large funds into the market on a monthly basis.
Hedge funds aren’t always the most creative entities on Wall Street — they’re all trying to get into the same stocks in the S&P 500, Nasdaq or Russell 2000. That means they tend to cluster into the same best-preforming names...
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