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Meta For The Record
By noon on Friday, Meta was on track for a record. Not just a record-high for the shares, but a record for the single-best day in market history.
The 21% surge in the stock translated into a $210 billion market cap gain (give or take).
That'd be the largest one-day value creation event in US history.
As the figure shows, Meta's February 2, 2024 rally is eclipsed only by the PetroChina IPO.
Notably, Meta also owns two of the 10 largest one-day value destruction events on record, a $70 billi
Say what you will about Zuck, but he took the time and made the effort to learn enough Chinese to communicate with his wife-to-be’s Chinese (only) speaking grandmother, specifically to tell her that he was going to marry Priscilla. 🙂
“Bribed” is such an accurate word to describe what’s happening. And paying a piddly dividend will, as U know, allow all funds that mandate investing only in dividend paying stocks to become buyers, thereby reducing downside volatility in Meta stock and thereby elevating its multiple. I used to think nuclear weapons will destroy humanity. But perhaps its social media…particularly its corrosive effect on children’s minds.