$FB Earnings Plunge Stock In After-Hours

Facebook’s Stock Plunges After Profit Declines

Gloomy outlook startles investors as steep spending cuts into tech giant’s profits


Mr. Zuckerberg said the company is investing heavily in its TikTok rival, called Reels, and focused on attracting young-adult users, although those segments aren’t currently as profitable as others. Reels doesn’t make the kind of money that Meta generates on older features such as the news feed and Stories, which allows people to post videos and images that disappear after 24 hours.

“I’m confident that leaning harder into these trends is the right short-term trade-off,” he said, noting that Reels is the company’s fastest-growing product.

Executives likened the shift to Reels to the company’s prior strategic transitions, including its shift to mobile from web about a decade ago and the more recent embrace of Stories.

My charts:


  1. $FB was off -22.89% in the after-market on dismal earnings.

“Meta also lost about a million daily users globally and stagnated in the U.S. and Canada, two of the company’s most profitable markets, the results show.”

See the charts from today and compare to yesterday’s closing charts in the thread.

Bob Dylan would name this “Blood on the Charts” were he a visual artist.


$FB off -24% and change at this moment. Gap down on the daily chart is already 4x avg volume at 11:00 AM.

Note the broken horizontal supports and new “death crossovers” of EMAs on the weekly and monthly charts