Facebook owner Meta Platforms set to break losing streak with 5% gain
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Meta Platforms (NASDAQ:FB) has found its bid after a four-day slide, leading big-tech gainers today with a hearty (if relatively small) 5.3% rebound.
The stock was higher from the open today, but picked up steam at midday as CNBC's Kevin O'Leary mounted a defense.

Addressing the various concerns around the company, he noted: "Will there be a need for curated metaverse so that the big brands can put up their virtual sites and advertise there without being beside a porn shop? Yes. What's the largest platform on earth that could provide a curated metaverse? It's Facebook."
The privacy changes on Apple's iOS caused ad yields to drop, he acknowledges, but "If you don't think they have a bunch of engineers working on enhancing yield on advertising, you'd be wrong."
"Nothing has changed. They're still over 50% of advertising dollars. Where else can you get billions of users and have pretty well every state using it for geoblocked advertising? And Reels is coming to fight off the attack from TikTok.
"Now is the time to own this stock. ... The big guys ... have finished flushing the toilet," O'Leary says.
Tigress also spoke up, reiterating a Strong Buy rating and a 12-month target price of $466, implying 101% upside from here. The company "pressed the reset button" during its last conference call, warning of user slowdowns and cutting revenue forecasts. But "aspects of the metaverse are already coming to fruition that will pay off down the road," the firm says.
"Significant" upside is driven by monetization potential on tech like Instagram, Messenger, WhatsApp and Oculus - and meanwhile the company's investing in innovation and strategic acquisitions along with buybacks, it says.
Earlier, investor Bill Miller also touted the new valuation as a reason to buy Meta.