Meta shares rocket 23%, one of the best days in over a decade

Posted on AllSides February 3rd, 2023
From The Center
Facebook | via Reuters

Meta shares jumped over 23% on Thursday, one of the stocks best day in nearly a decade, with a slew of analyst upgrades coming off the back of a fourth-quarter revenue beat and optimistic prognostications from CEO Mark Zuckerberg.

Meta shares sit at their highest point since September 2022, which was weeks before a disastrous third-quarter earnings report that prompted analysts across Wall Street to openly question Zuckerberg’s leadership. There was a markedly changed tone in analyst notes Wednesday night and Thursday morning, however, with the company beating topline estimates with $32.17 billion in revenue.

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