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Discovery Capital Management, LLC, managed by Rob Citrone, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 26,100 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. has recently undergone significant organizational restructuring, including a 5% reduction in its global workforce while accelerating the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and contemplating a move of incorporation to Texas for a more favorable business environment. Financially, Meta is making substantial investments in virtual and augmented reality, aiming to reach $100 billion by the end of the year. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 expected to be a critical year for smart glasses development. In response to these strategic developments, Argus has raised Meta’s stock price target from $686 to $775. The stock has shown a year-to-date performance of over 20%, with an average trading volume of approximately 13.7 million shares and a market capitalization around $1.8 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1846.1B
