Meta, formerly Facebook Inc, first unveiled plans for Diem, known as Libra earlier, in June 2019, as part of an effort to expand beyond social networking into e-commerce and global payments. The project immediately ran into fierce opposition from policymakers globally, who worried it could erode their control over the money system, enable crime, and harm users' privacy.
Meta Platforms (NASDAQ: FB) might be the king of social media thanks to its all-powerful core assets Facebook and Instagram, but the company's stock wasn't treated like royalty on Wednesday. More than one prognosticator has become notably cooler on Meta Platforms' stock of late. On Wednesday, Guggenheim's Michael Morris took a pair of scissors to his target on the social media giant, trimming it to $365 from the previous $395.
Meta Platforms (FB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.