12.03.2020 Facebook Daily Analysis

12.03.2020 Facebook Daily Analysis

South Carolina senator, Lindsey Graham, was in the news Wednesday for standing against tech companies who are against his child sexual abuse bill that was meant to punish tech companies that allowed child abuse materials online. Facebook and Google are against it because they would not want to be punished for content posted by users. The markets closed on Wednesday's trading session with a share of Facebook going for $170.24, which was a 4.46% fall from Tuesday's prices. Wall Street analyst, James Lee has released a list of internet assets to buy in this time of market uncertainties. Facebook happened to be on the list of assets mentioned and the estimated price target is $240. The justification for this target is that with companies, schools and social gatherings being reduced as a result of the virus, most people would need to be entertained, stay informed and connect. Facebook has gaming apps and devices (Oculus), entertainment and eCommerce as well as family apps that enable people to stay connected. This means more revenue for FB.