Facebook has declared war upon the establishment. If it wasn’t enough that a sub-culture of computer nerds decided to take on the banking system by creating the blockchain as an alternative to regular paper currencies, now the stewards of the 2-billion-plus-citizen Facebook nation have decided to issue their own currency – that stage in nationhood that comes just before electing a government and stitching together a flag. Global leaders and central bankers are up in arms, calling Facebook’s already tattered reputation into question vis-à-vis data security (as if one can’t rob a Brinks truck). And the stock goes up and down according to the whims of the detractors. For if a 5-billion dollar fine for selling user data to Cambridge Analytica hardly moved shares more than an inch, and if Zuckerberg’s appearance before Congress actually moved them up, this is where the real battle will be fought: over our pockets. Steadily rising since the end of last year’s big dip, shares are currently just short of their July 2018 $210 high. Congressional hearings over Libra seem to have put a lid on that, and now the question is where the Calibra project will go. Shares are sure to follow. Expected EPS: 1.9 (up 0.61%QOQ)
Expected Revenue: $ 16.50 BN (up 9.20% YOY ) Trade Facebook Inc