Why Meta Platforms Stock Topped the Market Today

Meta Platforms (META 1.20%) had a good day both in terms of its operations and its stock performance. The social media giant’s shares inched more than 1% higher, due in no small part to its inclusion in a major bank’s list of stock picks. It also helped that the company’s sites were running more or less smoothly, in contrast to the previous day’s outages. The share-price gain bettered that of the S&P 500 index, which rose by 0.5%.

A top-ten growth stock, says a leading U.S. bank

Meta was one of a clutch of titles that made Bank of America‘s lineup of monthly stock ideas. The lender identified a total of 20 companies that it believes would make for solid investments in March, divided evenly into growth and value stocks. The social media star made the growth-stock list.

It is the only social media company in the grouping, which includes heavyweights in other sectors including pharmaceutical major Eli Lilly, video streaming leader Netflix, and entertainment conglomerate Warner Bros. Discovery.

While Meta has been placed in top stock-pick collections previously, this latest inclusion cements its position as the go-to social media stock for investors. It also highlights the fact that it has plenty of growth in front of it.

Operations were back to normal

Otherwise, Meta’s foundational sites Facebook and Instagram didn’t see widespread outages. This was a great relief to both users and shareholders; it seems the Tuesday shut-outs were rare and exceptional, and hopefully not the norm going forward.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has positions in Meta Platforms. The Motley Fool has positions in and recommends Bank of America, Meta Platforms, Netflix, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.

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