The stock market rebounded on Friday after losing streaks, but still ended the week lower. Tesla (TSLA) and NVIDIA (NVDA) led the rally today.
Overall, S&P 500 went up 1.3% to 5,942, while NASDAQ increased 1.8% to 19,622.
Tweet of the Day
This is bad for housing and the economy. https://t.co/am17m5L3Ie
— David Sharek (@GrowthStockGuy) December 20, 2024
Chart of the Day
Here is the one-year chart of Meta Platforms (META) as of December 3, 2024, when the stock was at $614.
Meta (META) delivered impressive performance last quarter as profit grew 37% on 19% revenue growth. The Family of Apps, including Facebook and Instagram, drove growth with a 7% increase in ad impressions and an 11% rise in ad prices.
The key to Meta’s success is AI implementation. For example, in June, Facebook rolled out its unified video player to deliver more relevant recommendations. This helped boost time spent within the video player by 10%. AI has been a big help in improving ad revenue by providing advertisers with better conversions.
META seems like a solid value. David Sharek, Founder of School of Hard Stocks, thinks it has 24% upside for this year and 40% for 2025.
META is part of our Growth Portfolio and Aggressive Growth Portfolio.
