Meta Platforms: Time to Buy the Dip?
Judging by the market's reaction, it isn't too excited about Meta Platforms' (NASDAQ: FB) ambitions to become the metaverse leader. Instead, it would have rather just let its Facebook and Instagram platforms print money and reward shareholders. However, CEO and founder Mark Zuckerberg has different ambitions.
Over the last six months, Meta's stock has lost more than 40% after setting an all-time high in September. However, most of the decline came after Meta reported fourth-quarter earnings on Feb. 2: a drop of more than 30% in less than a week. Meta is going all-in on the metaverse and will be spending heavily, which cuts profits -- something Wall Street hates. Is this short-term pessimism a blessing in disguise for long-term investors?
Image source: Getty Images.
Source Fool.com
