Meta Platforms (META) stock price is down over 66% this year with the metaverse not monetizing currently. Though, monthly active users are around 2B. “Meta Platforms applications include Facebook, Instagram, and WhatsApp. Social media mentions of downloading one of these social media platforms is up year-over-year. This has to do with the adoption of reels or the TikTok copycat on Facebook and Instagram. Regarding Instagram, there is strength in its shoppable content. Users scrolling through their social media feeds, like to see products that they would be interested in buying. However, macroeconomic headwinds like advertising spend are ultimately impacting Meta Platforms (META),” says LikeFolio’s Megan Brantley. Tom White and Kevin Hincks weigh in on commentary from Mark Zuckerberg.
23 Dec 2022