Analyst Predicts META Stock To Crash to $485

The Nasdaq-listed META Platforms stock opened Thursday’s trading session at $627 after falling nearly 2.6% the previous day. The dip comes as CEO Mark Zuckerberg is expressing concerns that his staff is developing AI infrastructure at a slower pace. He is worried that the company is unable to keep up with the growing competition. He also said that “AI should empower people, and not replace them,” but had fired nearly 8,000 employees in the last 12 months, citing AI. Zuckerberg also scrapped plans to fill an additional 6,000 open roles, indicating a hiring freeze.

All of these are affecting META stock’s prospects. Though its AI user base is more than 1 billion, it is mostly passive as it is bundled into Facebook, WhatsApp, and Instagram. On the heels of the turbulence, a stock market analyst on TradingView explained that traders who short META could make more profits than those who buy it. The analyst predicted that the equity could see a sharp correction that could send prices below the $500 level.

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