Meta trade updates (+49%)

Meta, the company that owned Facebook and Instagram, released its first quarterly report for 2023, revealing a solid quarter for the company.

The company reported total revenue of $18 billion, up 10% from the same period a year earlier. This increase in revenue was primarily driven by user growth and increased advertising on its services.

In particular, monthly active users on Facebook and Instagram grew by 5% and 7% respectively compared to the same period of the previous year. The company also reported a 15% increase in ad spend on its services, which contributed significantly to the increase in revenue.

In addition, Meta has announced important future investments in virtual reality and augmented reality, a sector in which it is already the market leader with the Oculus department.

However, the company also faced some challenges in the quarter. In particular, Meta has experienced a slight slowdown in user growth in some regions, such as the US and Europe, which could pose a problem for the company’s future growth.

Overall, Meta’s 2023 first quarter was positive, with solid revenue growth and a promising long-term investment strategy. However, the company will need to continue to closely monitor user growth and ad spending to maintain its position as a leader in social media and technology.

From a technical point of view, Meta is about to close the important gap down at the beginning of 2022 which had started a bear market that lasted all year, a period in which I averaged an average price of 187.85.
Currently the gain of the position is about 50%.

Target gap closure at $290-291, where I will take home part of the profit.

Happy trading
Lazy Bull



DISCLAIMER: I am not a financial advisor. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

Lazy Bull