In this clip, watch as Telecom-Media Policy analyst Paul Glenchur, Communications analyst Andrew Freedman, & Hedgeye CEO Keith McCullough update on the recent FTC nominations and how a desire to implement aggressive antitrust agenda could have a negative impact for the Big Tech companies like Meta Platforms (FB).
“Having shorted Facebook (FB) the whole way up on the bounce, I want to short that because it’s at the top end of its range,” explains McCullough. “When something starts going down and then they see this happening from The Hill, then all the sudden they see that as causal. It doesn’t always matter, it matters at particular times. [Facebook] is at a spot where it’s going to have to deal with the fundamentals again.”
“Once they begin this process, you know all the talking heads are going to start talking about ‘oh gosh, the FTC is doing this. You need to take that into account.’ I don’t think people are talking about that much,” notes Glenchur. “So when it happens, I think they have got to be ready for it.”
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