21-Nov-2024
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Meta is the largest social media company in the world, boasting close to 4 billion monthly active users worldwide. The firm's "Family of Apps," its core business, consists of Facebook, Instagram, Messenger, and WhatsApp. End users can leverage these applications for a variety of different purposes, from keeping in touch with friends to following celebrities and running digital businesses for free. Meta packages customer data, gleaned from its application ecosystem and sells ads to digital advertisers. While the firm has been investing heavily in its Reality Labs business, it remains a very small part of Meta's overall sales.
Meta Platforms - Class A trades on the NASDAQ stock market under the symbol META.
As of November 21, 2024, META stock price declined to $563.09 with 9,890,422 million shares trading.
META has a beta of 0.98, meaning it tends to be less sensitive to market movements. META has a correlation of 0.13 to the broad based SPY ETF.
META has a market cap of $1.42 trillion. This is considered a Mega Cap stock.
Last quarter Meta Platforms - Class A reported $41 billion in Revenue and $6.03 earnings per share. This beat revenue expectation by $299 million and exceeded earnings estimates by $.78.
In the last 3 years, META traded as high as $602.95 and as low as $88.09.
The top ETF exchange traded funds that META belongs to (by Net Assets): VTI, VOO, SPY, QQQ, IVV.
META has outperformed the market in the last year with a return of +66.1%, while the SPY ETF gained +32.2%. In the last 3 month period, META beat the market returning +7.0%, while SPY returned +6.6%. However, in the most recent 2 weeks META has underperformed the stock market by returning -1.6%, while SPY returned +0.4%.
META support price is $555.84 and resistance is $575.20 (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 shares will trade within this expected range on the day.