Jim Cramer Says Meta Platforms’ Latest Quarter Is Why He Stuck With the Stock

CNBC's Jim Cramer on Thursday used Facebook parent Meta Platforms as a case study of why it sometimes pays off to hold downtrodden stocks.
Meta shares soared over 23% on Thursday the day after the company reported a fourth-quarter revenue beat and announced a $40 billion stock buyback.

CNBC's Jim Cramer on Thursday used Facebook parent company Meta Platforms as a case study of why it sometimes pays off to hold downtrodden stocks.

"When companies change their stripes, or when they're incredibly well managed, or disciplined, or efficient, or when they invent amazing products and reinvent themselves on the fly, you should stick with them," Cramer said.

Meta shares soared over 23% on Thursday the day after the company reported a fourth-quarter revenue beat and announced a $40 billion stock buyback.

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CEO Mark Zuckerberg also called 2023 a "year of efficiency" and committed to cutting costs, with management lowering its expense outlook for the year.

The tech giant's prioritization of efficiency comes after investors worried for months about Meta's pricey investment into the metaverse, sending its stock tumbling. Shares closed at about $189 a share on Thursday, more than double its 52-week low of roughly $88 in November.

Cramer, whose Charitable Trust owns shares of Meta, also reminded investors that they should buy and sell stocks in stages rather than making hasty, all-or-nothing trading decisions — and that waiting for the bottom is often rewarding.