Tiger Global Cuts Meta Stake by 63% Amid Shift in Investment Strategy

Tiger Global Management, a prominent US hedge fund, significantly reduced its stake in Meta Platforms Inc. by nearly 63% in the third quarter, according to a regulatory filing released on Friday. The firm's decision to scale back its investment in the social media giant has sparked interest among market analysts and investors. The hedge fund sold approximately 4.7 million shares of Meta in the third quarter, leaving it with about 2.8 million shares at the end of September. This reduction has resulted in Tiger Global's Meta stake falling to its sixth-largest position, down from its previous status as the firm's biggest US long bet. Lone Pine Capital, another prominent hedge fund, also sold off roughly 343,000 shares of Meta during the same period. The third-quarter sell-off is a significant development in the ongoing saga of Meta's struggles to regain its footing in the rapidly evolving digital landscape. The company's stock price has been under pressure due to concerns over its ability to compete with emerging social media platforms and its increasing reliance on advertising revenue. The sell-off by Tiger Global and Lone Pine Capital may be a reflection of these concerns, as well as the growing uncertainty surrounding Meta's future prospects. In the global markets, Meta's struggles have had a ripple effect, with the company's stock price falling by over 50% in the past year. The sell-off by prominent hedge funds has added to the market's concerns, with investors increasingly questioning the company's ability to adapt to the changing digital landscape. The impact of the sell-off is not limited to Meta, as it has also had a broader impact on the global technology sector. Meta, formerly known as Facebook, is one of the world's largest and most influential technology companies. Founded in 2004 by Mark Zuckerberg, the company has grown to become a dominant player in the social media landscape, with over 2.7 billion monthly active users. However, the company's struggles to adapt to the changing digital landscape have raised concerns among investors and analysts, who are questioning its ability to maintain its market share in the face of increasing competition. As the global technology sector continues to evolve, Meta's future prospects remain uncertain. The company's ability to adapt to emerging trends and technologies will be crucial in determining its long-term success. The sell-off by prominent hedge funds has highlighted the growing uncertainty surrounding Meta's future prospects, and investors will be closely watching the company's performance in the coming months.