After spiking as much as +18% off Wednesday’s closing price at $49.01 to $57.98, Facebook ($FB) has followed after the fashion of Netflix last week by giving back all its post-release gains almost as quickly as it added them, marking the second Sparkle & Fade in one of 2013’s marquee momo names.
Amidst thinner extended-hours trade, FB is stabilizing around its late afternoon low-of-day just below $49 – more than 2% below Wednesday’s open at $50, adding up to a massive 20% post-earnings range.
Facebook (FB) – 15-Minute Chart – Rally Reversed
Facebook (FB) – 1-Minute Chart: Sparkle & Fade
Will we see a lasting Facebook earnings rally once investors have had time to digest the EPS beat and accompanying release data? Or is this another example of one of the can’t-miss momentum stocks of the current bull market finally toppling back to earth?
Twitter: @andrewunknown and @seeitmarket
Author holds no exposure to securities mentioned at the time of publication.
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