Facebook Hits 52-week Low
Facebook has just hit a 52-week low, bottoming out at $126.85 on Tuesday.
This continues the downward trend we’ve been seeing since July 2018. And we are a long, long way away from July’s peak of $218.62.
There are a few factors playing into this latest move.
Investors are concerned about the technology sector right now, which is in its sixth week of decline.
Investors are worried about the continued backlash of Facebook’s data breach in July, when the private data of 50 million Facebook users was leaked.
Investors realize that the Facebook website will have staggering growth. At 2 billion users, the website has exhausted the majority of the population which can even access the site.
But do these concerns justify the move? Or is FB stock simply on clearance?