17-May-2024
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Meta is the world's largest online social network, with nearly 4 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos. The firm's ecosystem consists mainly of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. Users can access Facebook on mobile devices and desktops. Advertising revenue represents more than 90% of the firm's total revenue, with more than 45% coming from the US and Canada and over 20% from Europe.
Meta Platforms - Class A trades on the NASDAQ stock market under the symbol META.
As of May 17, 2024, META stock price declined to $471.91 with 9,125,665 million shares trading.
META has a beta of 1.16, meaning it tends to be more sensitive to market movements. META has a correlation of 0.18 to the broad based SPY ETF.
META has a market cap of $1.20 trillion. This is considered a Mega Cap stock.
Last quarter Meta Platforms - Class A reported $36 billion in Revenue and $4.71 earnings per share. This beat revenue expectation by $295 million and exceeded earnings estimates by $.39.
In the last 3 years, META stock traded as high as $531.49 and as low as $88.09.
The top ETF exchange traded funds that META belongs to (by Net Assets): RAYD, VTI, VOO, SPY, QQQ.
META has outperformed the market in the last year with a price return of +94.8% while the SPY ETF gained +29.1%. However, in the short term, META had mixed performance relative to the market. It has underperformed in the last 3 months, returning -0.2% vs +6.3% return in SPY. But in the last 2 weeks, META shares have fared better than the market returning +4.4% compared to SPY +3.6%.
META support price is $462.71 and resistance is $483.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that META stock will trade within this expected range on the day.