Q1 Earnings across the board has been fairly week compared to previous earnings in the bull market. My suspicion is that most traders have been waiting for this earnings to rally so that they can sell in this rocky market but since that isn't happening, the weak hands are giving up their positions.
But let's take a look at facebook and other tech earnings such as Google. Even though Google beat earnings, the stock is down close to 5% today. That just goes to show that we're not riding that euphoric roller coaster anymore. So how does this relate to facebook? As a base case, if they meet expectations or beat expectations, I'm going to assume the outcome will be similar to Google's stock performance after earnings.
Disclosure: The author is short $fb. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it. The author has no business relationship with any company whose stock is mentioned in this article.
But let's take a look at facebook and other tech earnings such as Google. Even though Google beat earnings, the stock is down close to 5% today. That just goes to show that we're not riding that euphoric roller coaster anymore. So how does this relate to facebook? As a base case, if they meet expectations or beat expectations, I'm going to assume the outcome will be similar to Google's stock performance after earnings.
Disclosure: The author is short $fb. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it. The author has no business relationship with any company whose stock is mentioned in this article.