Meta Platforms took a big hit after earnings.
Earnings estimates were lowered for 2022 over the past 90 days.
However, the valuation is now attractive and the stock is oversold.
Ultimately, a positive catalyst is needed to prevent the stock from underperforming and to start a new uptrend.
This may take some time since investors will want to see the new efforts for growing the Metaverse turn profitable.
Of course, the next positive earnings report could also act as a catalyst.
This is a stock to keep on a watchlist for the next positive catalyst. I am neutral on the stock right now.
Earnings estimates were lowered for 2022 over the past 90 days.
However, the valuation is now attractive and the stock is oversold.
Ultimately, a positive catalyst is needed to prevent the stock from underperforming and to start a new uptrend.
This may take some time since investors will want to see the new efforts for growing the Metaverse turn profitable.
Of course, the next positive earnings report could also act as a catalyst.
This is a stock to keep on a watchlist for the next positive catalyst. I am neutral on the stock right now.