"...MOMO stock was down about 8% Tuesday. The driver behind the pressure in shares was word from ReutersFacebook (NASDAQ: FB ) has quietly set up a Chinese subsidiary . The move could theoretically cut in on Momo's social media customer base. But it's going to be a challenge to say the least.
Bottom line, investors will have to wait and see what becomes of Facebook's effort At the end of the day China is a country known for "liking" its share of restrictions on foreigners, including the company's own flagship social media platform in China. But in the here and now, the Momo price chart is once again offering growth at value levels and an opportunity for MOMO stock bulls to get long today...."
www.nasdaq.com/article/...ould-like-momo-stock-today-cm996530
Bottom line, investors will have to wait and see what becomes of Facebook's effort At the end of the day China is a country known for "liking" its share of restrictions on foreigners, including the company's own flagship social media platform in China. But in the here and now, the Momo price chart is once again offering growth at value levels and an opportunity for MOMO stock bulls to get long today...."
www.nasdaq.com/article/...ould-like-momo-stock-today-cm996530