META Stock Plunges 30% in a Year: Analysts Warn of Further Drops
META's stock has taken a significant hit, losing around a third of its value in recent weeks. The tech giant's share price has plummeted from $385 to nearly $300 in just over a year. Despite recent profit surges, analysts warn of potential further drops in the stock market today.
META's stock has been on a rollercoaster ride. After being one of the best-performing stocks since its 2012 IPO, the company's shares have been under pressure in the stock market. The weekly chart shows selling pressure, with key moving averages rolling over or hanging on. Historically, October has been META's worst month, which could be a cause for concern in the meta stock.
Analysts are divided. While some, like Wells Fargo, have raised their targets due to robust ad revenue and user engagement, others see risks in the stock market. META's stock is trading at 26x trailing earnings and 11x sales, which is not considered cheap. The 20-day moving average is declining, and the 13-part opinion indicator shows a 'Buy' rating, but the 24% mark is decreasing. Some experts warn of a potential drop to $700, about 2% below Monday's close in the stock market today.
META's stock price has been volatile, and there are signs of further potential drops in the stock market today. While the company has exceeded profit expectations, analysts caution that the stock is not cheap. Investors should stay informed and monitor the situation closely.
