Direxion's METU And METD Funds Allow Traders To Play Both Sides Of Meta Platforms Stock
Portfolio Pulse from Joshenomoto@benzinga.com
Meta Platforms Inc (NASDAQ:META) faces mixed sentiments as Wolfe Research gives it an Outperform rating with a $620 price target, while concerns about its ad business and earnings surprises persist. Direxion's METU and METD ETFs allow traders to leverage or inverse trade META stock, with recent market volatility impacting their performance.
July 18, 2024 | 12:11 pm
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NEGATIVE IMPACT
Direxion Daily META Bull 2X Shares (METU) provides 2X exposure to META stock. Recent market volatility led to a significant drop in METU's value.
The leveraged nature of METU makes it highly sensitive to META stock's performance. Recent negative sentiment in the tech sector has led to a significant drop in METU's value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Meta Platforms Inc received an Outperform rating from Wolfe Research with a $620 price target, but concerns about its ad business and negative earnings surprises persist.
While Wolfe Research's positive rating and price target could boost investor sentiment, ongoing concerns about Meta's ad business and negative earnings surprises create a mixed outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Direxion Daily META Bear 1X Shares (METD) provides inverse exposure to META stock. Recent market volatility led to a significant increase in METD's value.
The inverse nature of METD makes it benefit from declines in META stock's value. Recent negative sentiment in the tech sector has led to a significant increase in METD's value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80