The stock price of Meta Platforms, the parent company of Facebook and Instagram, experienced a significant increase of 20.32% last night, resulting in a closing price of $474.99 per share. This sets a new record high for the company’s stock price and boosts its market capitalization by an astonishing $197 billion in just one day. This achievement surpasses Amazon’s record in 2022, with Apple having accomplished a similar feat just a few days earlier.
What’s interesting is that Meta’s stock price also plummeted to its lowest point in a single day in 2022, taking the company two years to rebound and reach a new all-time high. Currently, Meta’s market capitalization stands at a staggering $1.22 trillion.
The surge in Meta’s stock price can be attributed to the latest quarterly earnings report, with analysts from Morgan Stanley highlighting the company’s strong performance, rapid growth, and revamped corporate structure that is more efficient than ever, in line with their “Year of Efficiency” plan.
TLDR: Meta Platforms, the parent company of Facebook and Instagram, witnessed a remarkable 20.32% surge in its stock price, setting a new all-time high and boosting its market capitalization by $197 billion in just one day. This achievement surpasses Amazon’s record in 2022, with Apple also achieving a similar milestone recently. The rebound in Meta’s stock price comes after a two-year period of decline, with the company now valued at an incredible $1.22 trillion. This remarkable growth can be attributed to the strong performance, rapid growth, and improved efficiency of the company, as highlighted in their latest quarterly earnings report.
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