Jim Cramer Says “Meta’s Lost Its Way”

Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer shared his take on. Cramer discussed the market sentiment toward the stock, as he stated:

Let’s explain what’s going on with the weakness so you understand what’s happening with these iconic stocks that everyone used to talk about all the time. It should be obvious right now that the Magnificent 7 and their buddies are bereft of friends in this market. Take Meta. People were paying 30 times earnings, high, okay. for the stock as recently as a year ago. Now, they’re paying just 22 times earnings, low. That’s a sign the market’s gotten skeptical of Mark Zuckerberg and the company’s growth rate, which is the most important quality to factor in when you’re deciding what to pay for a stock. It’s a sign that Meta has lost its way. There, I said it. Meta’s lost its way. Jumped today, but Meta’s re-evaluation, let’s call it that, is severe.

Photo by Alexander Shatov on Unsplash

Meta Platforms, Inc. (NASDAQ:META) develops technologies and applications that connect people through social networking and messaging. The company’s portfolio includes Facebook, Instagram, WhatsApp, Messenger, Threads, and products in virtual and augmented reality.

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Disclosure: None. This article is originally published at Insider Monkey.