META Approaches All-Time Highs Amid Stock Split Speculation

The Chart

Meta's stock value from the past two years, from a low of around $90 in 2022 to near highs today ($507).

3 Things to Know

1. Two years ago, the company's ticker had just changed from FB to META, completing a recent name change. As well, the sentiment towards the company was low as doubts lingered about the new focus on the metaverse and Facebook's growth prospects. CNBC characterised Facebook's situation as a "death spiral".
2. Since then, Mark Zuckerberg launched its "year of efficiency", shedding slashing headcount by the thousands and fixing its financial performance. The company also began pouring resources into becoming an AI leader.
3. Earlier this year, efforts began to pay off. META saw the biggest one-day gain in Wall Street history in February after posting strong numbers and announcing a first-ever dividend. Now, rumours of a stock split are buoying the price once again. Interestingly, Meta is the only Magnificent Seven company that has never split shares, a move that allows a greater number of investors to participate.