Meta Platforms (NASDAQ: META) had a rough 2022. Rising interest rates, a poor ad market, and increased competition forced the company to lay off thousands of employees; the stock price plummeted 64%.

But in 2023, Meta is on the rebound. The company's stock price is up 163% since Jan. 1, and it is reporting strong financial results.

The company made significant changes to its business, including churning out many new products and services like Threads, an app similar to Twitter (recently renamed X), and Reels, a promising short-form video platform. The improvements made by the company over the last year have not gone unnoticed by bullish investors, who eagerly anticipate the positive impact on the company's bottom line. Overall, there is a sense of optimism surrounding the company's trajectory.

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Source Fool.com