Is Meta back?

Back then when it was citing challenges, going head-to-head with TikTok, Facebook's growth looks like it hit the ceiling already.

The sell-off was not isolated. Meta joined plenty of other tech stocks tanking during the sell-off.

But it suffered much more, as it is still languishing at a share price of USD 200 as of the time of writing.

But it has rebounded by 121% from its bottom back on the 4th of Nov'22.

So what triggered the rally?

First thing first, share buybacks. In Q4 of 2022, Meta repurchased USD 6.91 billion of their common shares, bringing their repurchases to USD 27.93 billion in 2022.

Secondly, more headcount slashing. The layoff of 10,000 employees back in November, will be met with an additional 10,000 employees.

The market cherishes cost-cutting for big stable companies. But will that impede Meta's innovation and strength when it comes to technology?

It's still a big question mark as of now, but the market is happy, thus the rebound.

But, is the long-term prospect of Meta intact?

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