Meta Platforms, Inc. (NASDAQ:META) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore.
Cramer mentioned the company while discussing the Magnificent Seven, as he commented: The hallmark of the Magnificent Seven: bulletproof balance sheets
That’s what allowed them to have these robust buybacks. They were tight. They tended not to cascade.
These were huge companies, but there wasn’t ever a lot of stock for sale… Now, with the exception of Apple and NVIDIA, we have stretched balance sheets galore. Alphabet, after years of buying back stock, issued stock. They might not be the only one of the Seven that needs to raise money.