07:42:06 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,650,000
Close 2023-12-29 C$ 19.93
Market Cap C$ 112,604,500
Recent Sedar Documents

Globe/wire say Meta, others no longer only game in town

2023-12-29 08:54 ET - In the News

Also In the News (C-AAPL) Apple CDR (CAD Hedged)
Also In the News (C-AMZN) Amazon.com CDRs (CAD Hedged)
Also In the News (C-GOOG) Alphabet Inc CDRs (CAD Hedged)
Also In the News (C-MSFT) Microsoft CDR (CAD Hedged)
Also In the News (C-TSLA) Tesla Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Friday edition that as a strong year in U.S. stocks winds down, fund managers face a potentially consequential choice in 2024: stick with the Big Tech names, or take a shot on the rest of the market. A Reuters dispatch to The Globe says that shares of the so-called Magnificent Seven -- Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla -- have individually soared between around 50 per cent and 240 per cent in 2023, making them among the market's most rewarding bets. Expectations that the U.S. Federal Reserve will cut interest rates next year while the economy avoids recession have awoken other parts of the market in recent weeks. Meanwhile, some investors say the huge rallies in the seven may have left them overvalued or vulnerable to profit-taking. Data from the Apollo Group showed 72 per cent of the S&P 500's stocks underperformed the index this year, a record. However, there are signs the rally is broadening. The equal-weight S&P 500 has climbed 6.8 per cent in December against a 4.5-per-cent rise for the standard index, after lagging most of the year. Meanwhile, the previously sluggish small-cap Russell 2000 has soared about 14 per cent in December.

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