Meta Platforms, Inc., formerly known as Facebook, Inc., is one of the world’s largest technology and social media companies. Since its initial public offering (IPO) in 2012, Meta’s stock price has seen its fair share of ups and downs. In this article, we will examine the highest price Meta’s stock has reached in its history as a public company.
Meta’s IPO and Early Trading History
Meta held its IPO on May 18, 2012, pricing shares at $38 each. The stock opened at $42.05 on its first day of trading and closed at $38.23. In the early days after its IPO, Meta’s stock price remained relatively rangebound between $25 and $45 per share.
The stock saw its first major surge in July 2013 after the company reported strong second quarter results, including 61% revenue growth and a 53% increase in mobile advertising revenue. This sent the stock price above $45 for the first time.
Over the next year, Meta continued to post impressive financial results, and the stock price climbed to new all-time highs. By July 2014, Meta’s stock had broken through the $70 level for the first time.
Record Highs in 2015-2018
Meta’s stock really took off in 2015 and 2016. The stock more than doubled in 2015 alone, reaching a new high of $110.65 in November 2015. This was fueled by surging revenue, user growth, and expanding profit margins.
In 2016, the stock continued its meteoric rise, breaking above $130 in June and then topping $180 per share by December. This gave Meta a market valuation of over $500 billion for the first time.
The stock peaked above $218 in July 2018, an all-time record at the time. This was driven by strong earnings results, including 42% revenue growth and profit margins exceeding 45%. The market was enthralled with Meta’s reach, engagement, and monetization power.
| Date | Meta Stock Price |
|---|---|
| May 18, 2012 (IPO) | $38.00 |
| July 2013 | $45+ (first major surge) |
| July 2014 | $70+ (first time breaking $70) |
| November 2015 | $110.65 (new high at the time) |
| June 2016 | $130+ |
| December 2016 | $180+ |
| July 2018 | $218+ (all-time record at the time) |
Declines and Volatility in 2018-2020
Meta’s stock began to descend from its lofty heights in the second half of 2018. Several factors contributed to this decline:
- Slowing user growth
- Management warnings of lower profit margins
- Increasing regulatory scrutiny
- Reputational issues like privacy concerns and election interference
By December 2018, Meta’s stock had fallen to around $125 per share, more than 40% off its highs. The volatility continued into 2019 and 2020.
The stock rebounded to above $200 in early 2019 after strong earnings results, but declined again later in the year due to slowing growth, privacy issues, and antitrust investigations. In March 2020, the stock fell below $150 amidst the COVID-19 sell-off.
However, Meta quickly recovered thanks to surging user engagement during lockdowns and the shift to remote work/learning. The stock returned to all-time highs above $300 by August 2020.
Key Meta Stock Price Levels in 2018-2020
- July 2018: $218+ (all-time high at the time)
- December 2018: $125 (more than 40% off highs)
- Early 2019: Rebounded above $200 briefly
- March 2020: Fell below $150 during COVID-19 crash
- August 2020: New all-time high above $300
New Highs in 2021 and Declines in 2022-2023
Meta stock continued marching to new record levels in 2021. The stock rose steadily during the year, topping $380 in September 2021. This was driven by strong earnings, user growth, and its expanding ecosystem including WhatsApp, Instagram, Meta Quest VR, and more.
However, 2022 brought an end to Meta’s stock ascent. Several challenges have plagued the company and weighed on investor sentiment:
- Slowest revenue growth since going public
- Declining daily and monthly active users
- Weak guidance and margin compression
- Intense competition from TikTok
- Huge investments into unproven metaverse projects
These issues sent Meta’s stock plunging 57% in 2022. The stock bottomed around $88 in November 2022, more than 75% below its all-time high.
In 2023, Meta stock has failed to regain traction, remaining stuck below $150. While engagement and revenue has stabilized, the metaverse spending continues to spook investors. Unless growth accelerates, regulatory headwinds subside, and metaverse bets pay off, Meta stock may continue languishing at depressed levels compared to past peaks.
Key Meta Stock Price Levels in 2021-2023
- September 2021: $380+ (all-time peak)
- November 2022: $88 (75% below all-time high)
- 2023 (current): Below $150, 70% off peak
Conclusion
In summary, Meta’s stock price reached an all-time record high of over $380 per share in September 2021. This capped a meteoric rise from its IPO price of $38 just nine years earlier.
However, the stock has plunged over 70% from its peak due to slowing growth, margin compression, and massive metaverse investments. It remains depressed in 2023 around $130 per share.
Meta is still a highly profitable company with immense reach and resources. But it faces significant uncertainty and challenges in rebooting growth and monetizing new initiatives like metaverse and AI. Until Meta can demonstrate renewed momentum, its stock price is unlikely to challenge previous record highs anytime soon.