Up About 50% This Year, Is Meta Stock a Buy, Sell, or Hold?
Shares of Facebook parent Meta Platforms (NASDAQ: META) rose to nearly $180 on Monday. Believe it or not, this represents almost a 50% gain year to date. Shares are on an absolute tear.
With the tech stock rising so sharply and so quickly, it's a good time to take a look at Meta shares to see whether they are a buy, sell, or hold today. After all, not only has the stock soared, but the social media giant also recently reported its fourth-quarter results, giving investors more data to consider.
The most obvious explanation for Meta stock's big gain this year is simply that shares are rebounding sharply from a big sell-off in 2022. The stock cratered last year, declining 65%. Indeed, shares have been hit so hard that -- despite the stock's recent big gain -- it is still trading 24% below its 52-week high and more than 50% below its all-time high closing price of $382.18 in late 2021.
Source Fool.com
