Facebook, Inc. Common Stock (NASDAQ: FB)
Facebook looked to be having a relatively strong trading session in the market today. When the opening bell rang, the stock quickly started to make a run for the green. Throughout the morning, we’ve seen a continuation of upward movement, sending the value higher and higher. That is, until minutes ago when the stock started to spike downward. Below, we’ll talk about what we’re seeing from FB, why, and what we’ll be watching for ahead.
What We’re Seeing From FB
As mentioned above, Facebook looked to be having an incredibly strong day in the market early on. After starting the day off in the green, the stock continued to climb throughout the morning, leading to relatively impressive gains. However, minutes ago, we started to see a spike downward. At the moment (11:38), FB is trading at $119.24 per share after a gain of $0.33 per share or 0.28% thus far today.
Why The Stock Is Spiking Down
As soon as we were notified by Trade Ideas that FB was spiking off of today’s highs, we started to do some digging to see exactly what was causing the movement. In this case, it didn’t take long to uncover the story. The dip in value comes from a report on Business Insider.
Facebook is a company that makes its money in advertising. Recently, it found itself in a bit of a pickle thanks to miscalculations in its advertising metrics. Today, according to the report mentioned above, the company has admitted to more miscalculation in the advertising metrics.
What We’ll Be Watching Ahead
At the end of the day FB is a massive company and mistakes are going to be made. So, we’re not expecting for this dip to go too much further. Nonetheless, we do plan to keep a close eye on the stock and this story. After all, while this is something minimal at the moment, it could lead to something big down the line.
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[Image Courtesy of Pixabay]