Meta Platforms Stock: Time to Sell?
Shares of Meta Platforms (NASDAQ: META) have been on an absolute tear this year. The stock has surged 77% as of this writing. Even more, the stock is up more than 140% from a low point last November. With such incredible momentum in the stock price, I risk taking some heat for exploring whether it could be time to take some profit off of the table. With such a spectacular gain in the rear-view mirror, it's fair to say that sentiment around the tech stock is likely quite rosy.
But it's when exuberance dominates that it often makes the most sense to play devil's advocate, exploring whether it may be a good time to sell. So, does it make sense to sell some shares of Meta after such a big run-up in the stock price?
Despite Meta stock's big move higher, the stock still isn't commanding a frothy valuation. For instance, the stock has a price-to-earnings ratio of 24. While this is ahead of the average price-to-earnings multiple of 18 of stocks in the S&P 500 index, Meta is well positioned for strong earnings growth in the years to come.
Source Fool.com
