Facebook May Leave the EU

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Facebook daily chart

FB (META) axed yesterday by hitting our last resort stops. We no longer have any positions in this stock. However, we may look to return into the stock in the future.

The first issue is the EU US data block which may see FB leave the EU entirely. This will not affect the UK.

I wonder, if FB does leave the EU, will other mega tech companies decide on a similar course of action?

Outside of North America, Europe is a big source of income for FB. A big portion of that will be the UK but loss of income from EU will no doubt have an impact on the company.

The next quarter will be an important one for FB and may also decide our desire to be in or remain out of this stock.

For now, we are obviously out.

Let’s watch FB!