Long Position on FB @ $190.00 on 4/29/2020 (Momentum)

Facebook, Inc. (FB) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide.

The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

It also provides Oculus, a hardware, software, and developer ecosystem, which allows people to come together and connect with each other through its Oculus virtual reality products.

Facebook reported Quarter December 2019 earnings of $2.56 per share on revenue of $21.1 billion. The consensus earnings estimate was $2.52 per share on revenue of $20.8 billion. Revenue grew 24.6% on a year-over-year basis.

This stock reports earnings today, April 29th, after market close. 

With the launch of Facebook Messenger rooms, it's new private video conferencing service, the stock should see a strong earnings report. With last night's Google report, they demonstrated a trend of strong digital advertising, which contributed to their positive earnings report. Similarly, Facebook should post strong results. 

Entry point: $190.00

52-week trade range: $137.10 - $224.20

Stop/Loss: $180.75

Target Price: $210.00

Updates

5/5/2020 10:53:27 AM

FB closed at $210.

Position closed on 5/5/2020 at price of $210.00 with a 10.53% gain in 6 days.

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