Meta Platforms Stock Has Been on a Huge Run. Why HSBC Says Sell. | Barron’s
stock has rallied nearly 25% over the last two days, after the company posted well-received financial results.
The big news in the fourth-quarter earnings report was the company is cutting its 2023 spending plans for the second time in three months—while boosting its stock repurchase plan by $40 billion. The overall effect has been to convince investors that the parent of Facebook, Instagram, and WhatsApp has become more shareholder friendly in its approach to expense controls and capital allocation.