Meta Platforms stock fell for a fifth straight trading day Monday, pulling back further after a streak of 20 straight days with gains.
Shares of the Facebook parent company lost 2.3% to close at 668.13 in recent action on the stock market today. Meta stock was the IBD Stock Of The Day on Friday, when it appeared to be finding support at its 21-day moving average. But shares broke decisively lower in late trading on an overall bearish day for markets.
Meta is below its 21-day line but remains well above its 50-day trendline.
A 2.8% loss for shares last Tuesday, Feb. 18, put an end to a streak of 20 days that Meta stock posted gains, the longest in company history. Meta stock remains ahead 15% year-to-date as of midday Monday.
Meta AI Expands
The group of Magnificent Seven stocks that includes Meta was mixed Monday overall. Nvidia was trading roughly flat ahead of an earnings report Wednesday that will offer a big test for AI stocks in general.
Meta is often a favorite AI pick among Wall Street analysts for the wide reach of its social media empire.
Chief Executive Mark Zuckerberg said recently that Meta would reach $60 billion to $65 billion in capital expenditures this year, focused on AI infrastructure, well ahead of previous estimates. Meta rallied after revealing those numbers, despite the emergence of DeepSeek and its lower-cost AI models making some investors uneasy about big spending for AI.
Investors are closely watching for how Meta rolls out AI-powered features to boost engagement and advertising on its app, which have more than 3 billion daily users between Facebook, Instagram, WhatsApp, Messenger and Threads.
Meta announced Monday that its Meta AI chatbot is now available to users in the Middle East. In the announcement, Meta touted that its AI chatbot has nearly 700 million monthly active users and is available in 42 countries and 13 languages.
"By the end of the year, we are on track to become the world's most widely used AI assistant," Meta said in the blog post.
The top chatbot competition, OpenAI's ChatGPT, recently touted that it has 400 million weekly users.
Meta Stock On IBD Leaderboard
Meanwhile, Meta has a best-possible 99 IBD Composite Rating, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating.
Meta also is an IBD Leaderboard stock and on IBD's Tech Leaders and Big Cap 20 stock lists.
