As a measure against hate speech and other abuses of its live streaming service, Facebook Inc (FB) announced on Wednesday that it would implement a “one strike” policy, under which users breaching its rules would be prevented from using Facebook Live.
The social media company said that the user restrictions would be extended “to other areas over the coming weeks, beginning with preventing those same people from creating ads on Facebook.”
Facebook shares closed higher for the third time in the past twelve trading sessions on NASDAQ on Wednesday. It has also been the sharpest daily surge since April 25th. The stock went up 3.07% ($5.54) to $186.27, after touching an intraday high at $187.33, or a price level not seen since May 10th ($189.43).
Shares of Facebook Inc have risen 42.09% so far in 2019 compared with a 13.73% gain for the benchmark index, S&P 500 (SPX).
In 2018, Facebook Inc’s stock went down 25.71%, thus, it underperformed the S&P 500, which registered a 6.24% loss.
“From now on, anyone who violates our most serious policies will be restricted from using Live for set periods of time — for example 30 days — starting on their first offense. For instance, someone who shares a link to a statement from a terrorist group with no context will now be immediately blocked from using Live for a set period of time,” Guy Rosen, Facebooks Vice President of Integrity, was quoted as saying by TechCrunch.
According to CNN Money, the 40 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $225.00, with a high estimate of $275.00 and a low estimate of $120.00. The median estimate represents a 20.79% upside compared to the closing price of $186.27 on May 15th.
The same media also reported that 34 out of 47 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 7 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Facebook Inc (FB) are presented as follows:
Central Pivot Point – $187.10
R1 – $190.70
R2 – $197.88
R3 – $201.48
R4 – $205.07
S1 – $179.92
S2 – $176.32
S3 – $169.14
S4 – $161.95
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