The Long-Term Bull Case for Meta Platforms
It's hard to believe that it's been nearly two decades since social media platform Facebook launched in a college dormitory. Those who grew up with Facebook saw it evolve from a website that allowed users to share information with friends into one of the largest technology conglomerates in modern history.
And just as its big-tech cohorts like Apple and Microsoft faced existential crises at some point in their existence, the social media giant is facing a crisis of its own, trying to rebuild its identity. After rebranding to Meta Platforms (NASDAQ: META) last year, the company announced that its new frontier and focus would be the highly anticipated, and speculative, virtual world(s) known as the metaverse.
After some initial excitement from investors, the market began to question this evolutionary move, calling it a gamble and a big distraction from the company's core operations. As a result, Meta stock is down 60% year to date and just hit a new 52-week low this past week.
Source Fool.com
