Jim Cramer Spoke About These 16 Stocks Recently

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1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 260

Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer spoke about recently. Cramer highlighted why the stock plummeted despite reporting an “amazing set of numbers,” as he commented:

“Last night, Meta Platforms reported what I thought was an amazing set of numbers, beautiful in every way. Great user growth, incredible profitability, good margins. So far, so great. But the company had to take this big charge. No one saw it coming. Don’t worry, non-cash… More important, management committed to a level of capital spending that far outstripped what anyone saw coming, to an amount that, I mean, frankly, seemed imprudent if not downright reckless to many of the big hedge fund managers who determine your stock prices.

The result, Meta stock did indeed get eviscerated, plummeting more than 11% today, which is why the S&P and the Nasdaq got hit so much harder than Dow Jones Industrial Average, as the Dow’s got on a lot less tech. To many of these big-time tech players, not me, but them, Mark Zuckerberg has lost his mind, or at least all his discipline that he had demonstrated so well during that year of efficiency. To them, he’s now in the year of living dangerously.”

Meta Platforms, Inc. (NASDAQ:META) develops products that enable people to connect and communicate through social media, messaging apps, and virtual, augmented, and mixed reality devices. The company’s products include Facebook, Instagram, Messenger, Threads, WhatsApp, and reality hardware and software products.

While we acknowledge the potential of Meta Platforms, Inc. (NASDAQ:META) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than META and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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