Facebook (FB) - Get Meta Platforms Inc. Report was in the news a lot in 2019 as politicians and the media took the social media company to task for numerous issues including data privacy and its role in the 2016 presidential election.
While the axiom that "any press is good press" didn’t exactly apply to Facebook in 2019, the stock didn't suffer as much as one might have assumed based on the amount of negative press surrounding the company.
The reason: Facebook is in a league of its own, according to Jim Cramer and the Action Alerts PLUS team.
“What went right with the stock is just understanding how advertisers have such few alternatives,” said Jeff Marks, senior portfolio analyst at Action Alerts PLUS during the exclusive monthly call for AAP members. “The year before everyone was calling for a Facebook boycott on all of their platforms, but that just didn’t happen.”
Facebook’s stock has risen more than 50% over the past 12 months.
“We laugh at the fact that the press hates them, the politicians hate them, but the users love them,” Cramer said.
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