Jim Cramer Discusses Meta Platform's Transformation

Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer weighed in on. Cramer talked about acquisitions by the company during the episode, and he commented:

“Facebook starts as a desktop entity with a stock that flops after it goes public. But then it figures out the cell phone for Instagram and for Facebook, and then boom. And of course, it buys Instagram and it buys WhatsApp. It became a totally different company, taking advantage of its balance sheet and its vision that billions of people want to connect via Instagram, and they were right.”

Meta Platforms, Inc. (NASDAQ:META) develops products and services including Facebook, Instagram, WhatsApp, Messenger, and Threads to connect people and businesses. The company also creates virtual, augmented, and mixed reality technologies through its Reality Labs division. Cramer mentioned the company in the September 3 episode, as he said:

“There truly is a tremendous concentration of capital tied up in a handful of companies, but there’s so much fear mongering about this phenomenon that it’s almost guaranteed to lead you in the wrong direction. 12 years ago, I helped coin a term called FANG, Facebook, Amazon, Netflix, Google, because these companies were changing the world. Their spectacular growth prospects made them incredible investments… You had to hold onto these for dear life. Their impact on our lives was palpable. And of course, they’re worth far more now than they were selling for 12 years ago. There was a concentration then, there’s a concentration now. It’s not fatal, it’s lucrative. At the time, though, I took a lot of heat about my selection… Ladies and gentlemen, we’ve now had more than 12 years of concentration, a dozen years. All along, it’s been the same stocks… Facebook became Meta. Why? Because of Instagram, because of WhatsApp, because of reels, because of its dominance in advertising.”

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Disclosure: None. This article is originally published at Insider Monkey.