“Buy or Bury” Facebook
Wednesday we discussed how Chinese company and trading platform Webull is winning over Robinhood customers. We asked readers their opinions…
“Yes, I traded on Webull for a while, and yes, I liked it, but I really like the platform from TD Ameritrade. And since commissions are free for stocks with a small fee for commissions, I decided to stick with TD Ameritrade.”
Another reader writes: “No, I won’t be using Webull. There are so many good brokerage accounts; why would I even risk it?”
Our final contributor answers our question… with a question.
“One question for traders: the way China makes all of their companies comply with the government, would anyone really want to make their trading information and financial information available to China? Remember, most people link their bank account to their trading account.”
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Friday, Dec. 11, 2020…
“Buy or Bury”
“The drive to curb Big Tech’s power has gained momentum this year,” says an article at Financial Times.
Reminiscent of the break-up of Standard Oil’s empire — which controlled 90% of America’s refined oil more than a century ago — U.S. regulators are taking Facebook to task.
“This week, the Federal Trade Commission and a group of 48 U.S. attorneys-general hit Facebook with its first antitrust charges,” FT reports.
At issue is whether Mark Zuckerberg’s social media company quelled competition with a “buy or bury” strategy.
“The central allegation” being “Facebook chose to buy WhatsApp and Instagram in order to neutralize their threat, and to entrench its own position as the dominant social networking platform.”
Meanwhile, the case will be a difficult one for litigators… particularly since the FTC (and the Department of Justice) confirmed Facebook’s purchase of Instagram in 2012 and WhatsApp in 2014.
“The courts will have to consider whether the acquisitions were lawful then,” says FT, “not whether they would be lawful today.”
Another hurdle for would-be regulators? “The nature of the digital economy: services are often free so consumers do not face rising prices.”
As for Facebook (FB) stock, shares are down about 1% this morning, but if courts force Facebook to “unwind” Instagram and WhatsApp, will investors unwind their FB positions?
Do you foresee a selloff in Facebook’s future… or is this much ado about nothing?
Market Rundown for Friday, Dec. 11, 2020
S&P 500 futures are down 25 points to 3,636.
Oil’s static at $46.81 for a barrel of West Texas crude.
Gold is up $6.40 to $1,843.80 per ounce.
Bitcoin is down $122.50 to $17,992.25.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Take care, readers, and check back Monday.
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