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Discovery Capital Management, LLC, managed by Rob Citrone, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 26,100 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational changes, including company-wide layoffs affecting 5% of its global workforce, while simultaneously expediting the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation from Delaware to Texas. Financially, Meta is heavily investing in virtual and augmented reality, expecting to reach a $100 billion investment this year. The company has sold over 1 million Ray-Ban smart glasses in 2024 and is focusing on smart glasses as a key product by 2025. Amidst these strategic shifts, Argus has raised Meta’s price target from $686 to $775. The stock has shown a year-to-date price performance of 20.12%, with a current market cap of $1817.8 billion and an average trading volume of 13,690,284 shares.
More about Meta Platforms, Inc.
YTD Price Performance: 21.05%
Average Trading Volume: 13,711,266
Current Market Cap: $1838B
