After the social networking behemoth announced earnings that exceeded expectations, Meta’s stock is having a field day on Thursday, rising roughly 14%. The movement was sufficient to push the shares to 52-week highs, and they are now on the verge of a significant turning point.<\/p>\n\n\n\n
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Following strong quarterly results from Alphabet and Microsoft, the report was released, albeit only Microsoft was able to mount a respectable rally yesterday. In any case, Meta keeps awe-inspiring investors. Revenue increased 2.7% to $28.65 billion, exceeding predictions of $27.41 billion, and the company topped both top and bottom line expectations.<\/p>\n\n\n\n
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As a result, , some have argued about how to categorize Meta, pointing out that while the shares aren’t cheap, Meta isn’t a growth stock. <\/p>\n\n\n\n
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After the results report, charts do show that Meta stock is doing well. However, viewers have a clearer sense of the overall picture when they pan out to the weekly chart. For instance, the stock was able to break over the crucial $180 to $185 range earlier this year and is currently rising along with the 10-week moving average. The shares are currently surging higher, breaking through the 50% retracement at $235 and the 200-week moving average.<\/p>\n","protected":false},"excerpt":{"rendered":"
After the social networking behemoth announced earnings that exceeded expectations, Meta’s stock is having a field day on Thursday, rising roughly 14%. The movement was sufficient to push the shares to 52-week highs, and they are now on the verge of a significant turning point. Following strong quarterly results from Alphabet and Microsoft, the report …<\/p>\n","protected":false},"author":13,"featured_media":55906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7113,8220],"class_list":["post-83366","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-earnings","tag-meta"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=83366"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83366\/revisions"}],"predecessor-version":[{"id":83376,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83366\/revisions\/83376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/55906"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=83366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=83366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=83366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}