13.02.2020 Facebook Daily Analysis

13.02.2020 Facebook Daily Analysis

Facebook lost over 9.6% in the value of its stock on Thursday's trading session. One share of Facebook,  which was being traded at $170.24 on Wednesday fell to $154.47 by the close of Thursday's session. Neural magic has sued Facebook for stealing it's A.I software meant for building its neural networks. They seek undisclosed damages and injunction on the use of the alleged stolen software. There is a new cryptocurrency project called 'celo' that is being designed by over 50 major companies that is a competition to Facebook's Libra. However, the Celo does not have the number of users that Facebook has which keeps Facebook ahead in this regard. Even though Facebook share prices fell in the past sessions, the analyst still expects that Facebook will do better than all other tech-based stocks. With Facebook's constant innovation in their apps, well laid out growth strategy and diversification to avoid dependence on one major source of revenue, analysts estimate a 20% growth by 2021.