Traders,

After seeing the weakness in Alphabet and Microsoft, Meta Platforms told Wall Street to “hold my beer.”

The ailing social media giant then reported plans to continue lighting billions of dollars on fire in its quest to make the metaverse a reality. It’s also lost $9.4 billion this year in its Reality Labs unit.

Investors are not too happy with CEO Zuckerberg’s fixation with funneling so much money into a project that won’t generate much return for years on end. Even after being down 61% ahead of last night’s news, META stock crashed another 24% this morning and is now trading at its lowest price since 2016.

A slew of analyst downgrades isn’t helping matters either.

Video Of The Day: Jedi Options – Market Maker Move Tool (MMM) on Thinkorswim

In today’s Jedi Options, Coach Tyler explains what is the Market Maker Move Tool on #Thinkorswim (MMM) and how it works using a case study on Meta Platforms/Facebook ($META).

Chart of the Day: Meta Platforms ($META)

Timber!

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