Facebook stock sees a pop as investors anticipate its cryptocurrency announcement
The move has analysts saying it could create new sources of revenue outside Facebook's core advertising business.David Marcus, vice president of messaging products at Facebook Inc., speaks during the Facebook F8 Developers Conference in San Francisco, California, U.S., on Wednesday, March 25, 2015.'s stock rose 4.2% Monday as investors anticipate the company's entrance into the hot cryptocurrency space.
The digital currency will allow Facebook users to send money to each other and pay for goods through Facebook's family of apps like Messenger and WhatsApp. But details are pretty scarce beyond that. Still,on Facebook's impending crypto announcement, saying it could open up new sources of revenue outside of its core digital advertising business.
"We believe this is a major initiative for Facebook, and one that has the potential of putting the company front and center in areas beyond advertising, including commerce and financial services, materially expanding its total addressable market and growth prospects," analysts at SunTrust said in a research note this week.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The Fed may break a lot of stock-market investors’ hearts next weekClamoring for a rate cut by the Federal Reserve at some point this year is running high, but the Fed may not comply.
Consulte Mais informação »
European stocks set to open higher as investors await crucial Fed meetingEuropean stocks are set to open higher Monday as investors await this week's crucial U.S. Federal Reserve meeting.
Consulte Mais informação »
Can You Get 7/9 On This Week's Pop Culture Test?Do You Think You Can Get 6/9 On This Pop Culture Quiz?
Consulte Mais informação »
Stocks in Asia Pacific trade lower as investors await Fed meetingStocks in Asia traded lower on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.
Consulte Mais informação »
Cramer: Facebook will 'take out' its all-time stock high after its expected crypto launch'This is going to be the biggest thing that's happened to Facebook in years,' says CNBC's Jim Cramer. 'It will be vital.'
Consulte Mais informação »
Rupert Murdoch Buys $21.2M In Fox Corp. Stock A Week After Buying “In Error”Fox Corp. executive chairman Rupert Murdoch bought shares in the company worth $21.2 million about a week after buying a similar amount “in error” and then quickly selling it again. Acc…
Consulte Mais informação »