Facebook (FB) suffered its worst day ever last week. With a disappointing report of setbacks in revenue and user growth, share price dropped nearly 23% and market capitalization shrunk $120 billion, the largest market cap loss in history.
Facebook is currently priced at $168.15 at the time of writing, its lowest price in over 3 months, with investors contemplating whether or not now is the right time to buy shares.
Analysts appeared on Fox Business Network on Monday morning to share their thoughts on Facebook’s current price and where it’s heading.
“I think when this stock gets down to the 165 to 168 range, it’s very, very attractive,” says Circle Square Investments’ Jeff Sica. “They are facing a slowdown, but what I see with Facebook is they’ve been able to innovate consistently, and I believe that they will innovate their way out of this slowdown.”
“If this thing drops back in the low 160s… you’ve got to run with both hands and pick it up,” says Kingsview Asset Management CIO Scott Martin.
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