Like a rainbow after the rain, Meta finally found a way out of its consecutive decline last year.
This year has been better, after it reported positive second-quarter results last week along with upbeat guidance, sending Meta shares soaring to their highest level since early 2022.
Despite slipping on Monday, it has rocketed 11% in July for the ninth straight month of gains. In fact, it was also the stock's longest rise since Facebook's IPO in 2012.
Meta has been the second best performing stock in the S&P 500 this year, behind Nvidia.
A year ago, it was one of the worst-performing stocks in the index, losing two-thirds of its value.
The rise of the company formerly known as Facebook follows cost-cutting measures the company implemented in late 2022 and early 2023 that resulted in about 21,000 layoffs.
Since then, the recovery of Facebook's online advertising business began to be seen and it finally returned to double-digit growth, by 11% in the second quarter.
Its investment in artificial intelligence is also paying off, with more people watching short videos on Reels products.
Not only that, but the recent debut of a Twitter competitor called Threads has given investors hope that Meta could finally turn the app around.
Can this achievement be maintained this month and next?
