Facebook’s Stock Is On Sale, But the Retail Crowd Isn’t Buying
- Dip buyers failed to emerge in worst week since June 2020
- Meta’s P/E now cheaper than 40% of Russell 1000 Value Index
Photographer: Drew Angerer/Getty Images
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Bargain hunters are no longer pouncing on skids in the shares of Facebook parent Meta Platforms Inc. the way they once did.
The social media giant posted its worst week since June 2020 as investors fled riskier assets following a hawkish tilt by the Federal Reserve. Meta’s decline of 7.9% over the five sessions far outpaced those of megacap technology peers, but it wasn’t met with the surge of buying from retail investors that’s helped lift the stock out of previous selloffs.