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Meta stock fell 15% in November: Is it a good time to Buy the Dips?
Affected by the weakness in the technology zone, Meta Platforms (META)'s stock price fell 16% over 21 trading days in November, mainly due to slowing user growth and concerns over heavy investments in artificial intelligence and Reality Labs. Nevertheless, Freedom Capital Markets raised its rating on META from “hold” to “buy,” with a target price of $800, and Wolfe Research, Guggenheim, and TD Cowen share the same view. Recently, Meta Platforms won its antitrust lawsuit against the Federal Trade Commission (FTC), allowing it to retain Instagram and WhatsApp, which may boost its stock price. CEO Mark Zuckerberg highlighted the significant progress the company has made in the fields of artificial intelligence and smart glasses. Currently, the stock's price-to-earnings ratio is 25.9, with an average return rate of 74.5% historically after a fall.