Meta shares experienced their worst weekly performance in four years, declining by approximately 9% this week. Despite the significant drop, investor Mike Khouw is choosing to purchase the stock at its current levels.
The recent sell-off marks a notable reversal for the technology giant, which has seen its market value erode sharply over the past five trading days. This downturn represents the steepest weekly loss for the company in the last four years, prompting a reassessment of its investment outlook among market participants.
Mike Khouw, a prominent figure in the investment community, has publicly stated that he is buying into the dip. His decision to increase his position in Meta comes as the stock faces headwinds that have driven down its price, creating what he views as an attractive entry point.
While the source material does not specify the exact catalysts for the 9% decline, the move has been characterized as the most severe weekly drop for Meta since 2020. Investors are currently weighing the short-term volatility against the long-term prospects of the social media and technology platform.
Khouw’s strategy highlights a contrarian approach to the current market sentiment, suggesting that the recent price correction may have overdone the negative news. By buying now, he is positioning himself to benefit from a potential rebound in the stock’s value.
<small>Source: CNBC — read the original story there.</small>