Like other companies in the industry, we are updating and streamlining our billing experience for a very small percentage of advertisers. Meta began announcing the change in early March, sending advertisers notification via email and in-product notices.
We get a lot of tips from Meta that are just kind of junk. Meta is providing thousands of tips each month. It's pretty overwhelming because we're getting so many reports, but the quality of the reports is really lacking in terms of our ability to take serious action.
Pershing Square generally holds a small number of stocks, so it's easy to track what's happening. The fund exited its longtime position in Chipotle Mexican Grill last year, which was its top holding for a long time, as well as some newer positions, and it initiated a position in Amazon. It also just revealed that it has taken a position in Meta Platforms , which now accounts for 10% of its capital.
Bill Ackman's Pershing Square Capital made a significant portfolio shift, selling its entire stake in Chipotle Mexican Grill (NYSE:CMG) and taking a new position in Meta Platforms (NASDAQ:META | META Price Prediction), marking a rotation from consumer discretionary into AI infrastructure. The Trade That Turned Heads Ackman's firm exited Chipotle along with positions in Nike (NYSE:NKE) and Hilton (NYSE:HLT), while simultaneously investing in Meta Platforms, Amazon.com, and Hertz Global Holdings Inc. (NASDAQ:HTZ).
Shares of Meta Platforms have been riding a momentum wave over the past several months. After a difficult stretch marked by ad weakness and heavy metaverse spending, Meta has staged a recovery as digital advertising rebounded and management tightened costs. At the same time, the company's AI-driven ad tools have begun translating into higher engagement and improved pricing power. The result has been a sustained rally punctuated by brief pullbacks and fast recoveries.
When WIRED attempted to post a link on Facebook, we received a message that read: "Posts that look like spam according to our Community Guidelines are blocked on Facebook and can't be edited." Hours later, however, that message was updated to read: "Your content couldn't be shared, because this link goes against our Community Standards." The message linked to Meta's Community Standards homepage rather than a specific part of those rules.
Meta's simultaneous subscription testing across Instagram, Facebook, and WhatsApp isn't about innovation. It's about insurance. The world's most profitable advertising machine doesn't diversify revenue streams when the core business is thriving. Meta Platforms ( NASDAQ:META) generated a 40.1% operating margin in Q3 2025, with revenue of $51.24 billion growing 26.2% year-over-year. Trailing twelve-month earnings per share reached $22.61. The subscription push reveals three pressure points.
Meta Platforms Inc. (NASDAQ:META) announced Wednesday that it is turning Threads into a much bigger business as the app matures into a fast-growing conversation hub. At the same time, the company's new AI lab starts producing models meant to power more consumer products and ad tools. Two years after launch, Threads has grown into a distinct community-driven platform with its own voices and niches, and it now reaches more than 400 million monthly active users, the company said in its blog.
Over the last 12 months, revenue growth hit 21.3%, far exceeding the low- to mid-teens rates for the others, such as with Alphabet at 13.4% and Amazon below that. And in the past three years, in the midst of the artificial intelligence (AI) boom, Meta Platforms' stock rose over 368%, while Microsoft gained 95% and Apple, 91%. Yet META trades at a P/E of about 21x, roughly 36% below all of the other major hyperscalers, which average around 33x earnings.
Strong quarterly reports earlier in 2025 (despite a tax charge) had lent credence to the claim that Meta would continue to outshine its competitors over the coming year. The share price hit an all-time high of $796.25 back in August. The stock is still trying to recover from the pullback in November, and it is now up 3.6% year over year, underperforming the broader market. Furthermore, the near-term future of the economy is uncertain-just like the markets themselves-and Meta Platforms CEO Mark Zuckerberg is a controversial figure. Certainly, Zuckerberg's sudden shift to the metaverse and brand name change to Meta Platforms raised a few eyebrows several years ago.
Meta Platforms ( NASDAQ:META) has been a one-trick pony for most of its existence. The company makes almost all of its revenue from online ads. While other tech giants have diversified beyond their original revenue source, Facebook's parent company still heavily relies on ads, but that may finally change. The tech company is starting to see early signs of success as it diversifies beyond ad revenue thanks to AI. These are some of the things investors should monitor as Meta Platforms seeks to produce big gains for investors after a relatively slow 2025.
Meta Platforms Inc. convinced a federal appeals court to certify a question about whether its terms of service and community standards created an obligation for the company to combat scam advertisements. Whether the terms of service and community standards impose a legally enforceable obligation on Meta is a question with substantial grounds for differing opinions, the US District Court for the Northern District of California said Thursday.
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