‘The tide has changed’: This investing veteran says hot inflation and a tight Fed call for a shift in strategies. He likes 3 specific areas for protection
Meta Platforms (NASDAQ: FB) has had an unfortunate year up to this point. The dominant social media platform’s stock has plunged 43% year to date, which is quite a collapse compared to the S&P 500 and Nasdaq Composite, which have declined 14% and 24% over the same time period, respectively. The company is struggling in part due to the broader retreat from technology stocks that has resulted from high inflation, the Federal Reserve’s decision to raise interest rates in response, and global impacts from the war between Russia and Ukraine.