Is Meta Platforms a Value Stock Now?

The annual reconstitution to the popular Russell 1000 index had some notable changes. One for investors to consider is the increased weight of Meta Platforms (NASDAQ: META), formerly Facebook, in the Russell 1000 Value index. The social media company is now the fifth-largest weighting in the index.

Here's how the once high-flying growth stock ended up so heavily weighted in the value index, and what it means for investors.

The Russell 1000 index consists of the 1,000 largest companies by market cap in the United States. The FTSE Russell Group offers several subindexes, including the growth and value indexes for the Russell 1000. A member of the Russell 1000 may appear in either the growth or value index or both based on various characteristics. Importantly, combining the growth and value sub-indexes per their respective weightings reconstitutes the regular Russell 1000 index.

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Source Fool.com