We don’t spend a lot of time focused on individual stocks. Our attention is focused on market cycles, finding new investment opportunities, and working on getting asset allocation right. BUT, META (the artist formerly known as Facebook) did something on Friday that has never happened before. In a single day of trading, the value of the META enterprise increased by slightly less than $200 billion in a single day. Stocks have been traded in the US for about 125 years and that’s never happened before.
To put in in perspective, META’s $200 billion market cap increase in a single day is like adding the market value of a company the size of Disney, actually a little bit more, in a single day.
Mega-Cap is about to become super mega cap as “growers” get rewarded by this market very quickly and very powerfully. Growers grow.
Source: LSEG Datastream and ©Yardeni Research, and Investment Company Institute as of January 26, 2024
Richard Barrett
Chief Investment Officer
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