Meta Platforms (META, Financial) wrapped up the 2024 year with impressive high notes on gaining 65% returns. The recovery could be linked to an ambitious cost-cutting strategy, which was first implemented in 2023, along with the strength of AI and a renewed emphasis on advertising revenue. At $610.7, company stock is only 3.4% away from its all-time high of $632.68, which was reached on December 11, 2024.
In any case, Meta's chief, Mark Zuckerberg, has not long since marketed off a large level of his holdings. According to a January 6 SEC filing, Zuckerberg's 22 prearranged 10b5-1 trading plan in which he had sold 22,946 shares for a price range of $606.31 to $630.33. That sale brought his total divestiture in December to $335.94 million and totalled approximately $14.18 million.
Wall Street analysts still see Meta stock upside ahead, revising their price target recently. However, users of the company's recent controversies, such as its plans to integrate AI users into its platforms or to stop fact-checking, have had minimal effect on the share price.
Meta has also diversified its leadership with three new board members, such as UFC CEO Dana White. The appointments are aimed at building its brand, employing AI for growth, and exploring prospects in the wearables space.
Even as Meta's executives sell stock and the company continues to pivot and innovate, investor confidence stands strong as Meta solidifies its position in the technology space.
