"Meta Platforms Stock (NASDAQ:META) Reaches Record High Amid Election Year Tailwind"
Meta's stock price reached a new record, closing at $383.45, following a 200% jump last year, signaling investor satisfaction with CEO Mark Zuckerberg's cost-cutting measures that eliminated over 20,000 jobs. Despite the stock buybacks, Meta's market cap remains below its peak, but investors are optimistic about its position in the AI market. Zuckerberg's announcement of acquiring 350,000 Nvidia H100 graphics cards and significant compute power further supports the company's AI ambitions. Earnings for the fourth quarter will be reported on February 1.