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Meta Platforms, Inc. (META) reported stellar Q2 earnings results, although free cash flow was lower due to higher capital expenditures. FOMO trading in META stock is pushing put premiums higher in unusually heavy trading. Is META fully valued?
META is at $780.56, up over 12% today after releasing its Q2 results yesterday. Investors are impressed that Meta's revenue rose over +22% YoY to $47.5 billion from $39.07 billion last year. That was +$2.68 billion higher or +6% more than the market was expecting, according to Seeking Alpha.