Update: META stock keeps going up, $350 soon

Another huge week for META (formerly Facebook), up to $177/share compared to the Nasdaq being down 4%. This is a huge outperformance, and suggests significant relative strength on the part of META stock and its business. It’s going back to $350 soon, and then $500+ , and so on.

Own FBL with is a 1.5 leveraged ETF that tracks META.

Between Facebook, Instagram, and WhatsApp, META pretty much completely dominates social networking and mobile advertising, save for Google. There is still nothing that comes close, not Snapchat, nor TikTok. Also, META has among the highest profit margins of any company right now, about 33% margins. Excluding one-time expenses like the Metaverse (which the jury is still out), META still earns about $10 billion more in annual profit compared to Walmart.

All that hype about layoffs was overblown. I knew the stock would recover, and it has. It’s always the same pattern with the media.