META PLATFORMS INC. (NASDAQ:META): Meta stock is about to break out as more cost-cutting and layoffs attract investors

 


Meta stock pulled back 4.55% on Friday after retesting the trendline resistance at ~ $205/ its 600-day EMA ($207.39). The company just announced plans to lay off another 10,000 workers and launched a paid verification subscription service in the U.S. for Facebook and Instagram.

Let's see how many people are willing to hand over their government-issued photo ID and $11.99 per month to Meta, in exchange for being verified. Snapchat, with about 107 million active users in the U.S., launched its paid subscription service last year but only 2.5 million worldwide users signed up for it, per Tech Crunch.

Meanwhile, the Meta bulls stay in control of the stock as long as the 50-day EMA remains above its 200-day EMA.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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