We approach once more the realm of the untold TALE, which specifically has to do with Meta (ticker symbol – – wait for it – – META). I’ll make this short and sweet, since I am bearish on this bad boy by way of June puts.
It all comes down to waste. I have heard first-hand examples, again and again, of the insane waste going on inside the company. Engineers working ten hours a week, tops, for huge salaries. Research engineers on their failed AI effort being paid hundreds of millions of dollars to just sit around and bullshit all day long. And, just yesterday, tales of their newest network guy getting and six-fold increase in salary from his prior engagement and, by direct account, is bored and being given nothing to do.
That, to me, is a diseased organization. They are spending billions and billions on what amounts of welfare for their employees. I’ve said it before, and I’ll say it again: META could cut 80% of their workspace right this instance without harming their company or product. For now, they are so grossly profitable with their near monopoly that they can afford to be downright foolish.
Think META can never truly decline? Think again. It was only a few years ago that their stock looked like this.
The point being, both by way of my chart analysis and the anecdotes I hear with my own ears, I remain proudly and steadfastly bearish on META.
