Few stocks have been as hot as Meta Platforms (NASDAQ: META) in 2023. Shares of the social-networking giant have doubled in just four months, with the latest jump credited to its strong first-quarter results. However, when a stock doubles, investors need to dissect why it occurred and whether it's still safe to buy or even hold on to it.

I think there are some considerable warning signs that many are ignoring, and investors need to be aware of them so they don't get burned.

Formerly known as Facebook, Meta Platforms changed its name to signify its focus on the metaverse. While most of its business still comes from its Family of Apps segment (WhatsApp, Instagram, Facebook, and Messenger), Reality Labs (the metaverse division) is sinking the company's finances.

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Source Fool.com