Yesterday, Carter Worth & Michael Khouw talked about Facebook and shared their concerns about the name on Options Action. He pointed out that the stock is not attracting capital and it is underperforming its FAANG cohorts and tech in general. It is also underperforming the S&P500. Furthermore, it is underperforming consumer discretionary. Finally, he pointed out that the stock broke to the downside out of its bullish trend channel. Put this all together and he is bearish the stock.
We have been looking at this stock for some time and we have some thoughts on the company and the stock as well.
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