Top 5 Stocks to Sell Now According to Billionaire Dan Loeb

3. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Fund Shareholders: 229

Meta Platforms, Inc. (NASDAQ:FB) is another company that hedge funds have been fleeing recently, and that was even before the company’s disastrous Q4 earnings report. Hedge fund ownership of Facebook and Instagram’s parent company has fallen by 16% over the past two quarters. Third Point was one of several funds to unload Meta Platforms during Q4, selling off all 1 million of its shares.

Meta Platforms, Inc. (NASDAQ:FB) suffered the worst single-day loss in stock market history following its latest earnings report, losing $232 billion in value. The company expects its revenue growth to slow considerably this year, while its much-ballyhooed metaverse initiative lost a staggering $10 billion during the quarter. iOS privacy changes have also had a material impact on Meta’s ad revenue.

Nonetheless, Meta Platforms, Inc. (NASDAQ:FB) continues to grow its daily active users at a strong pace and is well-positioned to capitalize on the continued migration of ad spending to digital channels. The stock now trades at its lowest price-to-FCF ratio in the last five years, providing a cheap and compelling entry point into the stock.