Even TikTok’s return could not spoil Meta’s long-running party on Wall Street, with the company behind Facebook and Instagram heading towards its 20th straight day of gains on Friday.
That easily laps Meta’s previous record of 11 straight days of gains, set back in 2015. Mark Zuckerberg’s company, during early trading on Friday, was up about 8 points, or 1.1% — nothing major, but it would still count as another positive day if those gains hold through the closing bell.
TikTok, of course, is one of Meta’s chief competitors, so its return to the Apple and Google app stores on Thursday evening could have potentially spooked Meta investors on Friday morning. And as TheWrap reported this week, TikTok laps Facebook and YouTube when it comes to how much time the average American user spends on the app each day. Still, Meta investors do not appear to be too concerned.
Meta has been on a hot streak since Election Day, with its share price increasing 31% to $737.45 per share since then. (The company was seeing a strong 2024 heading into the election as well, it’s worth pointing out.) Those recent gains have pushed Meta to a valuation of $1.86 trillion — making it the sixth most-valuable public company in the world.
Zuckerberg, who once kicked Donald Trump off of his platforms, has had a cozier relationship with the president in recent months. He was spotted alongside Tesla boss Elon Musk and Amazon founder Jeff Bezos, among other tech executives, at Trump’s inauguration last month — but many MAGA fans told TheWrap they were skeptical of Zuckerberg’s sudden friendship with the president.
