Meta Platforms’ (META) hot streak continues.
Shares of the social media company have now risen for a record 20 consecutive trading days, propelling the stock to an all-time high of $736.67 U.S.
Meta Platforms’ stock is now up 23% on the year, and the current rally has crushed the previous longest rally in the shares that lasted 11 days back in September 2015.
Meta’s stock hasn’t had a down day since Jan. 16, which was when U.S. President Donald Trump was considering delaying a ban on rival social media app TikTok.
The current rally began in the final days of the previous administration of U.S. President Joe Biden and is longer than any rally that’s occurred in another Magnificent Seven tech stock such as Nvidia (NVDA) or Microsoft (MSFT).
Meta Platforms’ stock has also continued to steadily rise despite several events and news that has shaken the broader market.
Disruptive recent events include the emergence of Chinese artificial intelligence (A.I.) start-up DeepSeek, threats of trade tariffs, and hot U.S. inflation data.
The rise in Meta Platforms’ stock this year has trounced the 3% gain in the benchmark S&P 500 index during the same period.
Analysts attribute the continued hot streak in Meta’s stock to the company’s A.I. strategy and strong fourth-quarter 2024 financial results that have given the share price a boost.
