Meta Platforms (NASDAQ: META) unleashed social media on the world — but one of the biggest success stories in tech had a rough start to the decade. Failure to adapt to new trends and large investments into the unprofitable Metaverse brought the price of a Meta share down to as low as just $90 in late 2022.
When the closing bell tolled for 2024, optimists had plenty to smile about. During the course of the year, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all ascended to multiple record-closing highs.
With the deadline for Chinese-owned ByteDance to divest from TikTok or face a nationwide ban in the US approaching, Hamilton Capital Partners chief investment officer Alonso Munoz joins Julie Hyman on today's installment of Good Buy or Goodbye to take a closer look at two big social media names looking fill a potential gap: Meta Platforms (META) and Snap (SNAP). Meta is "a company that investors can get excited about, not just the value of having a big company, but also that reacceleration in growth [seen in the recent quarter]," Munoz says.
Shares of Meta Platforms (META 4.31%) rose today as the social media giant benefited from a cooler-than-expected inflation report, the company's announcement yesterday that it would lay off 5% of its staff, and the approaching TikTok ban, which could give a boost to Facebook and Instagram, the company's top two properties.
Meta this week announced that it was buying 200 megawatts of solar energy from multinational electric utility Engie, adding to the tech firm's considerable 12-plus gigawatts renewable power portfolio.
Meta, the corporation that owns Facebook, Instagram and WhatsApp, has announced that it not only plans to replace its professional fact-checking system with user-contribution, but also cut down on many of its diversity schemes in respect of hiring and training.
Mark Zuckerberg's recent decision to remove factcheckers from Meta's platforms—including Facebook, Instagram and Threads—has sparked heated debate. Critics argue it may undermine efforts to combat misinformation and maintain credibility on social media platforms.
Meta Platforms (META) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Meta's decision to change its content moderation policies by replacing centralized fact-checking teams with user-generated community labeling has stirred up a storm of reactions. But taken at face value, the changes raise the question of the effectiveness of Meta's old policy, fact-checking, and its new one, community comments.
A decision from the Supreme Court on a TikTok ban is expected this week. Alex Coffey highlights example trades in two names expected to benefit if the ban happens: Meta Platforms (META) and Snap Inc. (SNAP).
The broader U.S. stock market has enjoyed a remarkable run since artificial intelligence (AI) emerged as a game changer in early 2023. The S&P 500 has rocketed over 50% higher over the past two years.
Meta Platforms's Instagram was down for thousands of users in the U.S. on Wednesday morning, according outage tracking website Downdetector.com.