Facebook Inc (NASDAQ:FB) DOWN 1.31% AT 318.36
Facebook Inc (NASDAQ:FB)’s oversight board on Wednesday will decide whether to uphold the company’s indefinite suspension of former U.S. President Donald Trump, in a much-awaited verdict that may signal how the company will treat rule-breaking world leaders in the future.
Facebook indefinitely blocked Trump’s access to his Facebook and Instagram accounts over concerns of further violent unrest following the Jan. 6 storming of the U.S. Capitol by supporters of the former president.
At the time of the suspension, Facebook Chief Executive Mark Zuckerberg said in a post that “the risks of allowing the President to continue to use our service during this period are simply too great.” The company later referred the case to its recently established board, which includes academics, lawyers and rights activists, to decide whether to uphold the ban or restore Trump.
“Both of those decisions are no-win decisions for Facebook,” said Kate Klonick, an assistant law professor at St. John’s University who embedded at Facebook to follow the board’s creation. “So, offloading those to a third party, the Oversight Board, is a win for them no matter what.”
On technical fronts Facebook Inc (NASDAQ:FB) RSI stood at 61.21 and currently stock is trading Above All Moving Averages. So, BUY position can be taken with following target and stoploss.
TRADE SIGNAL -: Facebook Inc (NASDAQ:FB) – BUY: 318.36, TARGET: 329.06, STOP LOSS: 312.48