Why Facebook Stock Gained 14% Last Month
Shares of Facebook (NASDAQ: FB) were climbing last month as the social media giant benefited from optimism about the vaccine rollout and the economic recovery later this year as well as some bullish analyst chatter. There was no major news out on the company last month, but the tech stock did seem to benefit from a rotation out of high-priced growth stocks and into value stocks, which includes Facebook since the company now trades at a discount to the S&P 500.
Image source: Facebook.
According to data from S&P Global Market Intelligence, the stock finished the month up 14%. The chart below shows the gains during March.
Source Fool.com
