From Facebook to Meta...
Swith the benefit of insight the renaming wasn't that bad after all... More seriously, it seems that the shift from metaverse to ai and the focus on shareholder value have been working very well. What a turnaround by Zuck... By the way, he will receive a $175 million quarterly dividend, on track for making $700 million annually in dividend... Is Mark Zuckerberg the mist underrated tech CEO. Source chart: Mac10
Zuck (meta) vs. Musk (Tesla)
Remember the cage match story ? 😏 Source: carl Quintanilla
BREAKING: Meta stock, $META, soars 13% after beating earnings expectations and announcing a quarterly dividend with a $50 billion stock buyback.
The stock has added $130 billion in market cap in just 15 minutes. For the first time in history, $META now has a market cap of $1.1 trillion. It is officially the 7th largest public company in the world. Source: Barchart, The Kobeissi Letter
Mark Zuckerberg sold nearly half a billion dollars of Meta shares in the final two months of 2023 after a 2y hiatus in which the company’s stock price hit its lowest in seven years
The Meta CEO sold shares on every trading day between Nov. 1 and the end of the year, unloading nearly 1.28mln shares for ~$428mln. On average, each sale took in $10.4mln. Source: Bloomberg, HolgerZ
Meta’s ad rebound gets huge assist from China even though its services are banned there
Meta may be banned from operating in China, but the company is counting on advertisers there to boost its growth. Finance chief Susan Li told analysts on Wednesday’s earnings call that Chinese companies played a major role this quarter. Online commerce and gaming “benefited from spend among advertisers in China reaching customers in other markets,” Li said. Source: CNBC
The "X" war...
As highlighted by The Kobeissi letter, Meta currently owns the trademark for "X" in relation to "online social networking services." However, Microsoft owns the trademark "X" as it relates to online chat rooms and finance. Meanwhile, Twitter wants to make "X" into an everything social network with finance and banking. All while Twitter is suing Meta for copying Twitter... Source: Kobeissi letter