Is Meta Platforms Inc (NASDAQ:META) an Overbought AI Stock in 2024? [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
The second half of 2024 is here and rate cuts from the Federal Reserve remain elusive, with warnings about valuations and AI-led market hype growing louder. A number of notable Wall Street analysts have recently warned that the markets remains more concentrated than ever where just a few stocks account for most of the gains, thanks to their dominance in the AI industry. Many also believe the market is up for a correction as it has entered the overbought territory. Financial services company BTIG recently said in a report that the world's fifth-largest exchange-traded fund by assets under management (AUM), QQQ Trust Series 1, now trades “well into” overbought territory based on its Relative Strength Index technical indicator. QQQ tracks the Nasdaq-100 Index and it's not surprising to see the ETF showing signs of being overbought as more and more investors pile into mega-cap tech stocks in order to ride the AI bandwagon. For this article we scanned the holdings of the Invesco QQQ Tru
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News
- Want $1,000 in Dividend Income? Here's How Much You Have to Invest in Meta Platforms Stock. [Yahoo! Finance]Yahoo! Finance
- Meta accused of breaking European law with its ‘pay or consent' model [CNN]CNN
- Meta accused of breaking European law with its ‘pay or consent' model [CNN]CNN
- European Union accuses Facebook owner Meta of breaking digital rules with paid ad-free option [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Meta Platforms charge, Boeing deal, French elections - what's moving markets [Yahoo! Finance]Yahoo! Finance
META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 6/28/24 - Form 144
- 6/27/24 - Form 4
- 6/27/24 - Form 144
- META's page on the SEC website