Meta Platforms Inc (NASDAQ: FB) continues to have a hard time getting investors excited about its stock. Still, Miller Tabak’s chief marketing strategist is convinced “FB” will do very well next year.
Maley explains why he still likes Meta Platforms
According to Matt Maley, Meta down 35% from its high in early February continues to be a great pick for the long-term investors. On CNBC’s “The Exchange”, he said:
They had some negative news and Mark Zuckerberg decided very smartly, let’s just get all the bad news out there and we can maybe not take the target off our backs, but shrink a little bit in this election year.
At 17 times earnings, Maley says FB is fairly inexpensive and recommends that long-term investors load up on it “between now and the election day”.
Maley says metaverse will work for the FB stock
The tech titan sees its future in the metaverse space – a paradigm shift that, as per Matt Maley, could be very rewarding for Meta Platforms Inc. Speaking with CNBC’s Kelly Evans, he added:
In many ways, they’re doing what Amazon did so well in the past where they said, hey, we don’t care about the stock right now. We’re going to invest where we need to invest and it’ll make us a lot of money. I think it’ll work really well for FB.
Meta is expected to report its quarterly results next week. Earlier in April, Loop Capital’s Gene Munster also said the beaten down FB stock looked very attractive.
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