The catalyst driving FB stock is the recently announced Facebook Pay. This could be big business for Facebook folks.
On November 12, 2019, Facebook’s (FB) Deborah Liu, VP, Marketplace & Commerce, announced the company is introducing Facebook Pay, which she said “will provide people with a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp.” Liu added: “People already use payments across our apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.” Facebook Pay will begin rolling out on Facebook and Messenger this week in the U.S. for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace. Over time, Facebook plans to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp, according to the post. Facebook Pay supports most major credit and debit cards as well as PayPal (PYPL). “Payments are processed in partnership with companies like PayPal, Stripe and others around the world.
Bullish options flow was detected in FB stock on November 20, 2019.
It looks to me like we could see FB stock be the next stock to rally and catch up to Apple and Nvidia stocks.