On the 6th and 11th, net purchase of 120 billion won… “Even if a short-term recovery is possible, the trend seems unlikely to rise”
As the stock price of Metaplatform, the parent company of Facebook, the world’s largest social media, has recently plunged, Seohak ants (individual investors who invest in overseas stocks) have bought a lot of shares in the company.
According to the Korea Securities Depository (KSD) securities information portal on the 13th, from the 6th to the 11th of this month, the net purchase amount of domestic investors was 13.62 million dollars (regarding 124.3 billion won).
It surpassed Alphabet ($63.36 million) and Tesla ($32.94 million) to take the top spot in net purchases of overseas stocks.
In Meta last month, the amount of selling ($133.87 million) was higher than the amount of buying ($118.34 million).
The payment details of the securities information portal reflect US stock trading transactions 3 days prior to the relevant day.
In the payment history on the 6th of this month, the amount of transactions on the 3rd day when the meta plummeted is reflected.
Meta shares are down 26% in just three days.
This was the biggest share price decline since Meta went public in 2012.
The market capitalization also evaporated by $250 billion (regarding 30.2 trillion won) in one day.
This is in line with the announcement that the company posted a profit that fell short of market expectations in the fourth quarter of last year and that sales growth is expected to slow in the future.
Meta predicted that sales in the first quarter of this year would be between $27 billion and $29 billion, below the consensus (market expectation) of $30.15 billion.
In particular, he predicted that sales of regarding $10 billion will decrease this year as targeted becomes more difficult due to changes in Apple’s iOS privacy policy.
Domestic investors seem to have bought meta stocks, perceiving the stock price correction as an opportunity to buy at a low price, recognizing that the downtrend is excessive.
However, there are observations that the low-priced purchase of Seohak Ant will not easily lead to profits.
Seo Young-jae, a researcher at Daishin Securities, said, “The current meta’s multiple (the corporate value to profitability) has dropped to 18 times the price-earnings ratio (PER), which is very low. It is difficult to expect a rise in the current situation,” he said.
He said, “Sales growth is limited due to changes in iOS policy and the transition to a short video sharing platform Lils, while labor costs and investment related to Metaverse are increasing. necessary,” he pointed out.
Lee Hyun-ji, a researcher at Eugene Investment & Securities, also said in the report earlier, “It is clear that the meta is preparing to expand into the metaverse ecosystem from a long-term perspective, but there are still many tasks to be solved in reality to contain the big future.” was recommended.
/yunhap news
