Facebook shares plunge, plus a big bounceback in China

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 28 July 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of Facebook dropped after its latest earnings report after the company issued disappointing revenue guidance and posted user growth was flat in its latest quarter. Plus the Chinese Internet ETF posted its best day ever after 4 days of losses. So is it time to buy into these names?

Transcript

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0:00.0	Live in the Nasdaq Marketside overlooking New York City's Times Square, this is Fast
0:05.6	Money.
0:06.6	I'm Melissa Lee.
0:07.6	Tonight's Trader lineup, Steve Vrasso, Guy Dami, Tim Seymour, and Pete Najarian.
0:10.4	Tonight on Fast, we are awaiting pricing for one of the hottest IPOs of the year.
0:15.3	Robin Hood numbers expected at any moment.
0:17.9	Our team is working the phones.
0:19.1	We'll bring it to you as soon as we've got it.
0:20.8	Plus, we're tracking the after-resaction shares of Facebook, Ford, and PayPal.
0:24.4	All three stocks on the move right now and earnings are breaking down the numbers.
0:27.6	And later, Sammy Group, CEO, Terry Deppie, joins us exclusively.
0:31.6	That company reporting stronger than expected results today.
0:33.9	We'll talk to about that.
0:35.2	The rise of the retail investor and much more.
0:37.5	When we start off with the earnings alert on Facebook, that stock is lower after reporting
0:41.8	results.
0:42.8	The call is underway.
0:43.8	Let's bring in Julie Worston with the very latest, Julia.
0:48.4	Well, Melissa, Facebook's results soaring past both top and bottom line expectations
0:53.0	with 56 percent revenue growth, rather than the 49 percent that was anticipated.
0:57.8	But the stock is down about four hours after hitting an all-time high today on warnings
1:02.6	about what is coming ahead, saying that in the third and fourth quarters, they expect
	...

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