The Crash in Amazon and the Meta Stock Continues
The massive rally in the Meta stock has totally reversed with a 10% decline in a week, while Amazon shares are also going through a steep bearish reversal.
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While some technology stocks are surging, others, like Meta and Amazon, are facing renewed selling pressure. The broader market is witnessing a mixed performance across sectors, with consumer electronics and financials also showing varied trends. Apple (AAPL) is up by approximately 1%, while Oracle (ORCL) saw significant intraday volatility—initially jumping 3%, then dipping into negative territory before recovering to a 2% gain. Microsoft (MSFT) remains largely unchanged, whereas Nvidia (NVDA) experienced a sharp rise of 3% at the open, followed by an equal decline, and is now trading flat.
Meta Stock Chart – Struggles Amid EU Regulatory Pressure
Meta’s stock has quickly lost momentum after a strong 20-day bullish streak that ended last week. Over the past five days, the stock has been in a steady downtrend, with a nearly 2% drop today, following a 3% decline yesterday. The downturn follows news that Meta’s WhatsApp platform will now be subject to new European Union regulations. With an average of 46.8 million active monthly users, WhatsApp surpasses the threshold that triggers compliance with the EU’s stricter Digital Services Act. A European Commission official confirmed the new regulatory oversight, which has contributed to Meta’s stock retreating to $672—down $13 from its opening price of $685. If selling pressure continues, the next potential support level could be the 50-day simple moving average (SMA) around $650.
Amazon Drops Despite Beating Walmart in Revenue
Amazon stock has lost approximately 12% since peaking at $242.47 in early February. The stock is down more than 1% today, continuing its downward trajectory. Sellers have pushed the price below the 50-day SMA (yellow), and it is now testing the 100-day SMA (green) at $212.50, which provided some initial support as the price rebounded by $2.
Despite Amazon surpassing Walmart in quarterly revenue for the first time, investor sentiment remains negative. Earlier this month, Amazon reported fourth-quarter revenue of $187.8 billion, exceeding Walmart’s $180.5 billion for the same period. However, this milestone has failed to prevent a continued selloff in Amazon shares.
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