Analysts Praise Meta Stock After Job Cuts

Meta announced its second round of job cuts yesterday

Deputy Editor
Mar 15, 2023 at 10:37 AM
facebook twitter linkedin


Facebook parent Meta Platforms Inc (NASDAQ:META) received a host of bull notes this morning, with no fewer than nine analysts lifting their price targets, including Citigroup to $260 from $228. The stock staged a 7.3% pop yesterday after the company announced it was cutting 10,000 jobs and 5,000 open roles in its second round of job cuts. Today, however, the equity is succumbing to the broad-market slide, inching 0.6% lower to trade at $192.77 at last glance. 

Yesterday's bounce had META breaking above its 320-day moving average for the first time in over a year, the same trendline that capped gains following the stock's post-earnings bull gap from February. Since the start of 2023, Meta Platforms stock is up 60.1%. It's worth noting, however, that the security's 14-day relative strength index (RSI) of 82.2 sits in "overbought" territory, which typically denotes a short-term dip on the way.

Those wanting to speculate on MOS stock's next move, options might be a good idea. The security's Schaeffer's Volatility Index (SVI) of 41% sits in the relatively low 15th percentile of its annual range, indicating that options players are pricing in volatility expectations lower than 27% of all other readings from the past year. Plus, META's Schaeffer's Volatility Scorecard (SVS) sits at 83, suggesting the stock has tended to exceed options traders' volatility expectations during the past year.  

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners