Is Facebook ex-growth? (#480)

Simon Shares

• Great Sappi (JSE code: SAP) results.
• Strong Hudaco (JSE code: HDC) results.
• Top40 is trading at all-time highs, as is Resi10 and MidCap is almost there.
• Kastle back to work barometer shows office attendance in the US is still not back to levels from before the most recent pandemic wave and around 33% (on average) of pre-pandemic levels. Back in November, the average was just over 38%.
• IPO process explained.
• Ashburton ETFs have moved over to FNB.
• Meta Platforms (Nasdaq code: FB); Facebook, Instagram and WhatsApp
  • Down 25% on the day of the results. Fell further and now off 43% from September 2021 highs and back at May 2020 levels.
  • Market cap below US$600billion, that happens to be the number House legislators picked as the threshold for a "covered platform" in a package of competition bills aimed at Big Tech.
  • Active users declined
  • $10billion lost revenue due to new iOS privacy rules
  • $10billion on metaverse.
  • Regulatory issues.
    • Meta threatens to shut down Facebook and Instagram in Europe over proposed regulations. The EU says, 'please do'.
  • All said this is just one quarter, the next few quarters will tell us the true story.

Upcoming events;

• 17 February ~ JSE Power Hour: Tax-free investing