Meta Platforms Inc (META US), or the old Facebook, is on the edge of dropping out of the Top 20 largest US stocks after showing surging costs and a decline in revenue – it was the 6th largest at the start of the year. Overnight the stock plunged another ~24% breaking back under $100 testing levels not seen since 2016 after disappointing investors on too many fronts. Mark Zuckerberg’s plea for patience fell on deaf ears as the company has too many unproven bets in this challenging period for digital advertising.
- We still aren’t considering META for our International Portfolio, as we know from local examples that growth companies simply must deliver.
MM is neutral META
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