Social Media Giant Sneaks Out Big News

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This post is for education purposes only and should not be interpreted as a trade recommendation.

Just when you thought Facebook (FB) was done, Mark Zuckerberg comes roaring back.

Two interesting headlines snuck out yesterday on FB, the busiest stock for TradeStation customers in March and April.

First, the social-media giant plans a dating service to serve its 200 million users listed as single. “Today were announcing a new set of features coming soon around dating,” the billionaire millennial told developers at the company’s F8 conference.

Match Group (MTCH), the parent of services likes Match.com and Tinder, cratered 22 percent on the threat of increased competition. That was its biggest drop ever.

Zuckerberg’s next foray will be into smart speakers, according to CNBC. The product will reportedly be introduced outside the U.S. and include a digital assistant called M. Amazon.com (AMZN) and Alphabet (GOOGL) currently lead the smart-speaker category, although new devices are also coming from Apple (AAPL) and Microsoft (MSFT).

Also, don’t forget FB crushed earnings estimates when it reported earnings last week. That planted the stock back above its 50-day moving average and the $168-170 zone that was resistance last month. Can anything stop the House of Zuckerberg?

Facebook (FB)
Facebook (FB) chart with moving averages and support/resistance area.
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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.