Slowing revenue growth initially pulled the stock down nearly 9 in after-hours trading on Wednesday before losses picked up on the margin outlook. ALSO READ: Facebook says will not remove fake newsTracking Facebook’s fortunes in six chartsOf 47 analysts covering Facebook, 43 still rate the stock as “buy”, two rate it “hold” and only two rate it “sell”. Rahul Shah, chief executive officer at Ideal Asset Management in New York, a Facebook shareholder, said executives were trying to reset expectations about growth but the outlook caught Wall Street by surprise. ALSO READ: Man arrested over Facebook post“We own it for its leadership in the tech industry,” he said. “It’s the F in FAANG, but what’s to say that, 10 years from now, Facebook isn’t the next Myspace and something else has taken its place?”

Source: Standard Digital July 27, 2018 05:03 UTC