META (FB) Tanks --Internet Follows NEW UPDATE!

[Graybeard]

More blood in the water!

Facebook Parent Meta Is Preparing To Notify Employees of Large-Scale Layoffs This Week - Slashdot

Meta is planning to begin large-scale layoffs this week, WSJ reported over the weekend, citing people familiar with the matter, in what could be the largest round in a recent spate of tech job cuts after the industry's rapid growth during the pandemic. From the report: The layoffs are expected...

tech.slashdot.org

Slashdot still lives

The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.

The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history. While smaller on a percentage basis than the cuts at Twitter Inc. this past week, which hit about half of that company's staff, the number of Meta employees expected to lose their jobs could be the largest to date at a major technology corporation in a year that has seen a tech-industry retrenchment.

Good luck to the winners ...

 

[T J Tutor]

FB! Twitter! Who is next to fall out of high orbit?

Seems to me, chaos is at the helm these days.

 

[Graybeard]

Google is down, proportionally, less* than Facebook (META) |same floor .92 [inverse] *(- a further 8% a theoretical) from the last close *shown here as `Change90`| (since the stock split)
-45.01% For the Full Year on Declining Revenue

I hope we have hit the bottom but no real reason to believe so.

Amazon too

**added Amazon is taking a double-hit weak sales and increasing delivery expense (fuel costs OPEC)

 

[T J Tutor]

I'm staying in precious metals for now. Most of my stocks have been sold and converted to gold, palladium, and rhodium ((down dramatically from last year and climbing back fast) I only have three troy ounces). Really hard get the rhodium bullion these days. I suspended my silver buying in early 2020 and held on to what I had (it has tanked a few times since).

I love the stocks and bonds, but this past decade has worn me out and I'm close to 85% in precious metals now. I doubled my vault size in the last 10 years..

 

[Graybeard]

I prefer income interest and dividends now
Gold and Silver have to be overvalued, otherwise; with the inflation we are having, the value would have increased?

source:Early Indications Show September Home Prices Falling Less Than July/August

Real estate and dollars (DXY) have increased. Holding dollars only loses 4-8% --better than the so called 'growth stocks' that pay no dividends. The so called 'growth stocks' have dropped 30% or more this year.

I dumped some money into REIT/MBS and ETF lower grade corporate and foreign government bonds that are mostly floating rate. The yield was 10%+ on most.

y axis is % of capital, x is date

When (or if?) things turn around, the return may be 15% or better for a year --difference is I am seeing the dividend on a monthly or quarterly current basis at a 10% distribution annually. But I am at a capital loss right now so it is speculative. But less speculative than the go-go nothing stocks than are down so much right now, that are still liquid, but pay nothing, in terms of a dividend nor interest --just hopium

 

[T J Tutor]

I prefer income interest and dividends now

AHHH! A Warren Buffet man. I am too, I'm just more concerned than ever over politics, society, planet health, and the dangerous crazy fu***rs that have wars on their minds.

For most of my life I was 75% in that which I could compound or find blue chip style financial growth. I always had 20% minimum in metals, I've just reversed my investments now. Mostly metals and a little in some old growth stocks.

 

[Graybeard]

I am kickin' myself in the ass right now!

No balls no glory --was a reasonable shot
Thing is: I really think Facebook sucks ....

 

[Graybeard]

Well, I guess I screwed up again. No Balls no Glory

Was testing out a new table I am designing db_name.backtests

Looks like META is Back in the game (pretty much for now). I didn't think they would go under or anything but I did think price stagnation was a real possibility.

**edit "FIST_DATE" need to fix that ...