Reasons for the Decline of Meta Platforms (META) in 2022

Fundsmith, an investment management company based in London, released its 2022 yearly update. A copy of the same can be downloaded here. In 2022, the Fundsmith Equity Fund declined -13.8% compared to a 7.8% decline for the MSCI World Index in sterling with dividends reinvested. However, the fund is the best performer in the Investment Association Global sector since its inception in November 2010. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Fundsmith highlighted stocks like Meta Platforms, Inc. (NASDAQ:META) in its 2022 yearly investor letter. Headquartered in Menlo Park, California, Meta Platforms, Inc. (NASDAQ:META) is a technology company that develops products to connect people. On January 11, 2023, Meta Platforms, Inc. (NASDAQ:META) stock closed at $132.89 per share. One-month return of Meta Platforms, Inc. (NASDAQ:META) was 14.41%, and its shares lost 59.30% of their value over the last 52 weeks. Meta Platforms, Inc. (NASDAQ:META) has a market capitalization of $348.464 billion.

Fundsmith made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its  2022 yearly investor letter:

“In some cases these share price falls have become more pronounced because of events surrounding the business. Meta Platforms, Inc. (NASDAQ:META) has its well-publicised problems with the regulatory and competition authorities and has announced a large spend on developing the so called metaverse which it changed its name from Facebook to reflect.”

Meta Platforms, Inc. (NASDAQ:META) is in 4th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 177 hedge fund portfolios held Meta Platforms, Inc. (NASDAQ:META) at the end of the third quarter, which was 185 in the previous quarter.

We discussed Meta Platforms, Inc. (NASDAQ:META) in another article and shared Rowan Street Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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