Whoops, analyst downgrades Facebook stock hours after recommending it as shares tanked [CNBC]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: CNBC
Stifel lowers its rating to hold from buy for Facebook shares after reiterating its buy rating on the company earlier in the day. There is too much uncertainty relating to the economic impact of Facebook's pending News Feed changes for us to be comfortable retaining a buy rating on the stock, the firm's analyst writes. Published 1 Hour Ago Updated 46 Mins Ago CNBC.com SHARES Getty Images Facebook CEO Mark Zuckerberg One Wall Street analyst abruptly changed his view for Facebook shares within hours after seeing a big drop in the internet giant's stock price. Facebook announced on Thursday major changes to the company's News Feed. CEO Mark Zuckerberg said the internet firm will start prioritizing meaningful social interactions versus relevant content, and that he expects the time people spend on the social network will go down as a result. That prompted Stifel's Scott Devitt to reit
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