“While it’s too early to take a victory lap here, the stock continues to fall hugely for the year, I feel like Meta Facebook’s recovery efforts are already paying off.” the “bad moneysaid the host.
“Even after today’s jump, the stock is selling for a ridiculous 17x gains. Now that the biggest fears are off the table, I think Facebook is a good value play and I think it’s going to stack up… Potentially, if you can pull it off.” bad news from Amazon tonight, do some shopping,” she added, referring to Amazon‘s Profit loss and gloomy forecast in your last trimester.
Meta shares soared 17.6% on Thursday.
“The context of Meta Facebook is that almost nobody expected anything good here,” Cramer said, citing headwinds that include changes in Apple‘s privacy rulesthe rise of competitor TikTok and economic factors putting pressure on ad revenue for social media companies.
Cramer pointed to Facebook’s user growth to argue that the company is on the up. The number of daily active users of the social media platform was slightly above the expected number, according to StreetAccount.
He also said the company’s planned slowdown in investments, the success of Reels, its product that competes with Tiktok, and Zuckerberg’s confidence in his social media business make Cramer bullish on Meta.
“If there is something that Zuckerberg knows better than anyone, it is social networks. And well, the numbers already confirm it,” he said.
Disclosure: Cramer’s Charitable Trust owns shares of Apple, Amazon, and Meta.
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