DoorDash Is Taking a Leaf Out of Mark Zuckerberg's Playbook, and Its Stock Might Be Worth Buying Now
In late 2022, Facebook parent company Meta Platforms was forced to rein in its excessive spending following a 76% peak-to-trough plunge in its stock price. CEO Mark Zuckerberg vowed to make 2023 a "year of efficiency" and subsequently slashed over 21,000 jobs, cut costs across the board, and prioritized profitability.
It worked, and Meta stock has soared 533% from that low point to trade at an all-time high.
Food delivery giant DoorDash (NASDAQ: DASH) was in a similar situation in 2022. The company is still losing money, but it made substantial progress toward profitability in 2023, and investors have sent its shares 182% higher from their 2022 low point. DoorDash is still down 50% from its all-time high, though, and it might be time to buy the stock.
Source Fool.com
Meta Platforms Inc. Stock
Currently there is a rather positive sentiment for Meta Platforms Inc. with 20 Buy predictions and 3 Sell predictions.
With a target price of 532 € there is a slightly positive potential of 12.72% for Meta Platforms Inc. compared to the current price of 471.95 €.
