Key Points
Bill Ackman of Pershing Square and David Tepper of Appaloosa Management have significantly increased their stakes in Meta Platforms (NASDAQ: META) during the second quarter of 2023. Ackman boosted his position by 20%, now representing nearly 10% of his portfolio, while Tepper increased his stake by over 50%, making it 5% of his holdings. These transactions were disclosed in the latest Form 13F filings, which detail positions as of June 30, 2023.
Despite these investments, Meta’s stock has declined approximately 3% since the end of Q2 and around 6% since April 1. The downturn followed a disappointing earnings report revealing a 28% revenue increase but a 55% rise in expenses, leading to reduced operating profits. Current market skepticism is reflected in Meta’s price-to-earnings (P/E) ratio of 17.5, well below the S&P 500’s 21.4, indicating concerns over its future profitability and AI investment strategies.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
