Investment Clubs Are Selling Shares of Meta Platforms (Facebook, NASDAQ: FB)
Data for the most recent myICLUB top 40 shows that clubs sold their shares of Meta Platforms in large numbers in March 2022.
Shares of Meta Platforms (FB) (formerly Facebook) were hammered in February 2022 after the company released fourth quarter results and guidance that badly missed investor expectations. The stock was delisted by our Investor Advisory Service newsletter on February 3, 2022, over two primary concerns. First, the company's competitive problems, particularly from TikTok and Snapchat, may quite likely amplify in 2022 and further drag down earnings., Second, it could be several years before Meta Platforms' investment in its newly-created metaverse segment could become profitable, with losses stacking up, starting with the recent quarter's staggering $3.3 billion operating loss.
As the IAS analysts wrote, "there is too much uncertainty surrounding both initiatives" to continue to make holding the company's stock for now.
Many investment clubs have been divesting their Meta Plaforms shares, and the stock moved to the #2 position (tied with AMD) in the March 2022 Investment Club Top 40 for the total number of clubs selling shares in the month.
Each month, America's investment clubs buy and sell stocks for their club portfolios, and these transactions are tracked in the myICLUB.com Investment Club Top 40.See the rest of the current myICLUB.com Top 40.
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