Meta Platforms Stock Will Hit New Highs in 2024 Hosted by MarketBeat StaffNovember 8, 2023 ShareLink copied to clipboard. Play video for Meta Platforms Stock Will Hit New Highs in 2024DetailsGuestsAt face value, the top is in for Meta Platforms. The technical picture is more than suggestive and points to an overextended market needing correction. However, given the rapid uptick in valuation, the Q3 results, and the outlook for next year, it is more likely to be a sideways consolidation than a deep, full-blown correction. The rally will continue in 2024 if it doesn’t regain traction in 2023. The market for META is down about 15% from its highs and may fall further, but it is still above critical support. A move to critical support is less than 20% from the market top, which means no bear market, at least not yet. Meta’s stock price should rebound solidly from the 150-day moving average in this scenario.Stocks Mentioned in This EpisodeCompanyMarketRank™Current PriceDividend YieldP/E RatioMETAMeta Platforms4.1567 of 5 stars$577.16-0.5%0.35%27.19 Add This Stock to My Watchlist Chris Markoch, GuestMarketBeat Contributor, MarketBeatChris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.Thomas Hughes, GuestMarketBeat Contributor, MarketBeatThomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.Laycee Kluin, HostDigital Marketing Strategist, MarketBeatAs MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.Previous VideoAll VideosNext Video Subscribe on YouTube Don't Miss a Video Subscribe to watch the latest stock market videos from MarketBeat. We empower investors to make better trading decisions by providing real-time financial data and objective market analysis. Subscribe on YouTube More From MarketBeatBill Gates’s Next Big AI Bet: StargateIn February 2016… when almost nobody was talking about artificial intelligence…. 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Hosted by MarketBeat StaffNovember 8, 2023 ShareLink copied to clipboard. Play video for Meta Platforms Stock Will Hit New Highs in 2024DetailsGuestsAt face value, the top is in for Meta Platforms. The technical picture is more than suggestive and points to an overextended market needing correction. However, given the rapid uptick in valuation, the Q3 results, and the outlook for next year, it is more likely to be a sideways consolidation than a deep, full-blown correction. The rally will continue in 2024 if it doesn’t regain traction in 2023. The market for META is down about 15% from its highs and may fall further, but it is still above critical support. A move to critical support is less than 20% from the market top, which means no bear market, at least not yet. Meta’s stock price should rebound solidly from the 150-day moving average in this scenario.Stocks Mentioned in This EpisodeCompanyMarketRank™Current PriceDividend YieldP/E RatioMETAMeta Platforms4.1567 of 5 stars$577.16-0.5%0.35%27.19 Add This Stock to My Watchlist Chris Markoch, GuestMarketBeat Contributor, MarketBeatChris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.Thomas Hughes, GuestMarketBeat Contributor, MarketBeatThomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.Laycee Kluin, HostDigital Marketing Strategist, MarketBeatAs MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.Previous VideoAll VideosNext Video Subscribe on YouTube Don't Miss a Video Subscribe to watch the latest stock market videos from MarketBeat. We empower investors to make better trading decisions by providing real-time financial data and objective market analysis. Subscribe on YouTube More From MarketBeatBill Gates’s Next Big AI Bet: StargateIn February 2016… when almost nobody was talking about artificial intelligence…. I picked Nvidia as one of ...Brownstone Research | Sponsored7 Housing Stocks to Buy Regardless of Interest Rate ChangesAccording to the Bankrate survey of large lenders, the average interest rate on a 30-year fixed-rate mortgage ...MarketBeatTop "Sleeping Giant" Crypto In The Market NowTop "Sleeping Giant" Crypto In The Market Now We're looking at potential returns that could rewrite your fi...Crypto 101 Media | Sponsored7 Best Stocks Under $5 to Buy NowWhat is it about stocks under $5 that fascinates investors? Part of it, for sure, is the allure of finding the...MarketBeatTim Sykes’ Urgent Trade Alert: “Make this move now”WARNING: 80 Wall Street banks are gearing up for MASSIVE D.C. shock This $2 trillion D.C. shock is NOT abou...Timothy Sykes | Sponsored7 Nuclear Energy Stocks to Buy on Growing DemandThe question isn't if nuclear energy is making a comeback, but why? There are several answers, starting with t...MarketBeat
