Submitted by BlazingJava t3_yl54m8 in wallstreetbets
Meta just reversed 7 years of stock growth, last time it was at 88$ was in July 2015.
It's a company with 9.7 PE
Last quarter made $27.71B
Still growing in revenue YoY
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Meta has tons of cash even though people say their metaverse is a money pit, most of this money is going to hardware the oculus quest not the development of their software to make the metaverse
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Zuck the cuck has majority of the companies vote so there's no way he'll leave the new project.
And quite honestly I like the project, VR is awesome more immersive and funnier. There's games that are much better with VR than they were released, VR has a lot of momentum with younger generations you bunch of new boomers.
Yes it's expensive and can cause headaches but so did phones and computers in it's earlier stages some even till recently. And there's room for improvement in this technology
I try to have the same mindset that I had during this last bull run what will be the future now where can I risk my money on a future gamble, and this seems like it can be the future, Meta has tons of more cash to throw at this and the engineers.
We are not talking about a company with huge amounts of debt to finance it's ventures they are using their enourmous amount of cash to create something new that might one day be a huge platform where other companies need to go to META instead of META going to others like Apple.