We just got news that Meta won their lawsuit. Now, they didn't technically win, they actually settled. Meta is paying out $18 billion in the dollars in the settlement. That's a lot of money.
Plus, they're having to make lots of concessions and restrictions with childhood accounts.
This one is Meta. It's a newer position to the portfolio. Like many newer positions, ones that haven't had years to earn returns, Meta is in the red. It went down quite a bit after my initial buyin price, it's just gone down because of the bad news, the lawsuits, all the people concerned about how Meta's product may change.
In my mind, it has a lot of resemblance to what we faced with Google and the whole chat GPT scare. And I have a belief that Meta will turn out similar. And I believe Meta is actually a lot stronger than most investors are pricing in.
But regardless, my position is a 10% position in the portfolio. I have $150,000 in this stock. I'm down currently $34,000 in the red. But just like all these other stocks, I need a meaningful dip in Meta for this $10,000 to be added to it. So for this one, I set a buy target of $450.