Tag Archives: meta

Reanalyzing My Favorite Stocks for 2024

In 2022, I bought a lot of stocks. 2022 was a down year for the market, so I was able to find some pretty great deals on stocks. This year, however, has been an up year for the market. This means that a lot of the stocks that I own are valued a lot higher now than when I bought them. The question I want to ask now though is, are these stocks still a buy?

Meta

Meta has been an amazing investment for me so far. Last year, the stock went down to $200 a share, and I bought the stock. It then fell further to around $90 a share, and I bought as much of the stock as I possibly could. At time of writing, Meta is now trading at around $353 a share. This makes Meta my best investment of the year. Meta now has a market cap of around $900 billion which means that Meta is trading at 31.19 times their earnings. While I do think that that is pretty high, I do think Meta has a lot of growth opportunity. I don’t think I’ll make even close to the amount of money I made on Meta this year next year, but I don’t currently feel the need to sell this stock.

SoFi

I write about SoFi a lot. It is actually the biggest position in my portfolio that is not an ETF. SoFi has had a phenomenal year this year. I bought majority of my SoFi position at around $5 a share. Now, SoFi is trading at $9.67 a share. At these prices, I have not been buying as much of this stock lately just because I do think that this price is a little high. That said, I am not selling my position even a little. I am a little nervous about this stock for 2024 as I believe there could be risk with their loans, but overall, I think SoFi will do well next year.

Blackrock

Blackrock is the largest asset manager in the world. I bought this stock because I viewed it as a nice dividend play with solid growth as well. Blackrock hasn’t done as well for me as the other two stocks mentioned, but Blackrock is up a little over 9% year-to-date. Not incredible returns compared to many stocks this year, but a return nonetheless. I think Blackrock is slightly overvalued at the moment, and I probably won’t buy more at these current prices. I do still view this as a good stock for people who want a low risk investment that pays a dividend.

These three stocks were my favorite stocks going into 2023. Let’s hope 2024 is just as bullish.

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Meta’s Earning Call Today Was Amazing!

Last year, Meta’s stock absolutely crashed. The stock was doing terribly. I felt like Meta’s price drop was a HUGE overreaction, so I invested in the company. The stock then fell more, so I bought more. This caused Meta to become a really large part of my investment portfolio. That, of course, ended up working out for me very well considering that I am currently up over 100% on my shares.

With the stock becoming so profitable for me, I considered selling my shares and realizing my gains, but I didn’t. I just love the overall business of Meta too much, and I like owning part of it. Meta had an earnings call today that I was really excited for, and I am happy to say that they absolutely crushed it. Here’s some numbers.

Meta brought in $34.15 billion in revenue compared to $33.51 billion expected.

Meta also earned $4.39 a share compared to $3.60 a share expected.

Meta also revealed that Facebook now has 2.09 billion daily active users compared to 2.07 billion expected daily active users.

One thing people will point out is that Meta is still losing a ton of money on vr/ar projects through its reality labs division. This was actually a big reason for the stock falling so much last year. While this is true, it’s a very small part of the actual business. The core part of the business (its family of apps) is still growing and producing more revenue. The business itself is doing well.

I was also pleased to see an update on its twitter like social media app Threads which launched about three months ago. I’ve seen many people make the claim that threads is not doing well. It exploded in growth early on and did experience a pullback after which, in my opinion, got way overblown by the media. Anything that grows as fast as threads did is obviously going to experience a pullback. Meta announced that threads currently has just under 100 million monthly active users. That is absolutely incredible for an app that is 3 months old.

Overall, I am very happy with this earnings call as a shareholder.

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