Can Facebook Shares Make a Comeback on New Initiatives?

Credit: The Street
Published on June 17, 2019 - Duration: 01:41s

Can Facebook Shares Make a Comeback on New Initiatives?

Facebook is Real Money's Stock of the Day.

The social media giant is expected to release a white paper on its cryptocurrency tomorrow.

The potential launch of GlobalCoin, which would give the group's 2.4 billion monthly active uses the ability to concert their local currency into a Facebook-useable digital coin that could be used for payments, commerce or gaming, has supported Facebook shares over the past few sessions, with RBC analysts Mark Mahaney and Zachary Schwartzman predicting an "existential risk" that may arise from "a rapid, global consumer adoption of crypto tokens for payments and commerce." "We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams, and we plan to provide an analysis of the White Paper to help investors analyze the underlying cryptoeconomics of the token," the pair wrote in a recent research note.'

For more in-depth coverage of get over to RealMoney.com, where Kevin Curran will be breaking down everything investors need to know.

Facebook is a holding in Jim Cramer's Charitable Trust, ActionAlertsPLUS.com.

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