- META Platforms stock opened Thursday at $627 after a 2.6% decline, driven by CEO Mark Zuckerberg’s concerns about slow AI infrastructure development.
- Zuckerberg has laid off nearly 8,000 employees in the past 12 months, citing AI, and froze hiring for 6,000 open roles, leading to a lawsuit by former employees.
- A TradingView analyst predicts META could drop to $485, a 22% correction, with a potential further decline to $450 if support fails.
META Platforms stock opened Thursday’s trading session at $627 after falling nearly 2.6% the previous day, as CEO Mark Zuckerberg expressed concerns that his team is developing AI infrastructure too slowly. He warned the company is struggling to keep up with growing competition, stating “AI should empower people, and not replace them.”
However, META has fired nearly 8,000 employees in the last 12 months and scrapped plans to fill another 6,000 open roles, citing AI-driven productivity metrics. This has led to a lawsuit from 26 former employees who claim the company discriminated against those with disabilities or who took medical leave.
Consequently, a stock market analyst on TradingView argued that shorting META could yield more profits than buying it. The analyst predicted a sharp correction that could send prices below $500, with a target of $485 based on a rejected descending channel pattern.
The technical analysis shows META stock could decline to $485, representing a correction of nearly 22%, and if support fails, it could fall further to $450. The analyst stressed that the pattern mirrors the 2018 correction, and the stock is now entering a new bearish phase.
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