Facebook Stock Hits New Low After Wedbush Note

FB stock is headed toward its worst quarter in six years

Dec 24, 2018 at 10:03 AM
facebook X logo linkedin

The shares of Facebook, Inc. (NASDAQ:FB) are trading down 1.4% at $123.212 -- earlier hitting a nearly two-year low of $123.05, after Wedbush removed the FAANG stock from its "Best Ideas" list. However, the brokerage firm maintained its "outperform" rating and $220 price target, a 76% premium to Friday's close.

Today's negative price action is just more of the same for FB stock, which is pacing for a 24% fourth-quarter loss -- its worst quarterly performance since the third-quarter of 2012. What's more, Facebook is on track to close below its 50-month moving average for the first time since the trendline formed in June 2016.

Against this backdrop, skepticism has been ramping up both in and outside of the options pits. In addition to a handful of FB stock downgrades, put buying has accelerated at the major options exchanges in recent weeks.

Drilling down on specific options, the January 2019 140 and 150 strikes are home to peak put open interest, with more than 97,000 contracts currently outstanding. Data shows at least some buy-to-open activity at each strike, suggesting options traders are targeting more losses for Facebook at the start of 2019.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI