Shares of Meta Platforms (NASDAQ: NASDAQ: META ) dropped 2.6% on Tuesday morning, threatening to end its 20-day winning streak, which has been the longest run in the company's history and unprecedented among firms with nearly $2 trillion market capitalization. If the decline holds until the market close, it would mark the first downturn for the tech giant since January 16.
The recent surge in Meta's stock value was fueled by a positive earnings report and enthusiasm over its artificial intelligence initiatives, as well as plans to develop humanoid robots. This news had given the stock an additional boost last Friday. Despite the current dip, there remains a possibility for the stock to rebound by the end of the trading session, although the over 2% decline presents a significant hurdle.
Meta's impressive streak has set a new record, not just for the company but also among the 'Magnificent Seven' tech stocks. According to Dow Jones Market Data, no other tech giant in this group has matched Meta's consecutive gains. Here's a look at the longest upward streaks for these companies:
- Meta Platforms, 20 days (February 2025)
- Tesla (NASDAQ: TSLA ), 13 days (June 2023)
- Apple (NASDAQ: AAPL ), 12 days (May 2003)
- Nvidia (NASDAQ: NVDA ), 10 days (November 2023)
- Amazon.com (NASDAQ: AMZN ), 10 days (July 2013)
- Alphabet (NASDAQ: GOOGL ), 10 days (December 2010)
- Microsoft (NASDAQ: MSFT ), 10 days (October 1987)
Meta's ongoing streak stands out as the longest since at least 1980 among current S&P 500 stocks, noted a report from Bloomberg's Macro (BCBA: BMAm ) Man columnist Cameron Crise. He said such extended runs are more commonly seen in less-efficient assets like emerging markets, making Meta's performance particularly noteworthy.
As the trading day progresses, investors and analysts will be closely monitoring whether Meta can reverse the downward trend and maintain its upward momentum, or if Tuesday will indeed mark the end of an era for the stock's historic climb.