Citron Research: Facebook Shares to Hit $160 in 2019
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Short-seller Citron Research said this week said that Facebook’s stock could reach up to $160 in 2019, saying that the reported data scandals and privacy issues barely had an impact on the company’s revenues.
Shares of the firm went up around 4.4 percent to $129.57 after Citron’s recommendation. The short-seller also said that investors will be rewarded by the shift of user behavior to Instagram shopping and the personalization of the commerce process.
Citron added that the company’s recent privacy and propaganda woes have made investors overlook its earnings power and its potential as the most advanced advertising tool with global reach in messaging, networking, and the future of shopping.
Source: Reuters