Meta’s decline is unmatched among big US tech stocks in recent years

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

United States News News

The slump has pushed Meta out of the top 10 of largest global companies by market value, but it has also left it trading at its cheapest on record

Over its life as a publicly traded company, Facebook parent Meta Platforms Inc. has repeatedly demonstrated an ability to rebound after earnings disappointments or various controversies have weighed on the stock. Not this time.Over its life as a publicly traded company, Facebook parent Meta Platforms has repeatedly demonstrated an ability to rebound after earnings disappointments or various controversies have weighed on the stock. Not this time.

“The management team needs to show investors over the next few quarters a path to growth,” said David Wagner, portfolio manager at Aptus Capital Advisors. He added that the stock, which he owns, is “in purgatory,” and that sentiment “couldn’t be lower.” Apple hasn’t had a 40% drawdown since 2013, according to data compiled by Bloomberg. For Microsoft, Amazon, or Alphabet , the last time they had a peak-to-trough drop of this scale was around the financial crisis.

In part because of the valuation, Meta continues to have fans on Wall Street. Nearly three-fourths of the analysts who cover the stock recommend buying it, according to data compiled by Bloomberg, while the average analyst price target points to upside of more than 60%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Meta, crypto and all other vitual fairytale stuff.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: U.S. Adds WeChat, AliExpress to Notorious Piracy Market ListThe U.S. added Chinese messaging platform WeChat and online marketplace AliExpress to its list of notorious markets for counterfeiting and piracy, an annual compilation of the worst intellectual-property abusers and counterfeiters. Investing with williamchurch09 has brought my family so much joy, I've received R80,500 from my little funds i invested and I'm grateful, i advice everyone to invest with 👇👇👇👇 williamchurch09
Source: dailymaverick - 🏆 3. / 84 Read more »