Meta Platforms (NASDAQ:META) is almost there. The Facebook parent company is just shy of hitting US$1 trillion in valuation for the first time in over two years. But there is still something to celebrate, as Meta stock recently hit all-time highs!
What happened?
Meta stock currently holds a market cap of US$981 billion, making it just US$19 billion shy of hitting that trillion-dollar mark. That may seem like a lot, but it’s already improved in just the last week.
It would be an impressive feat for Chief Executive Officer Mark Zuckerburg, after announcing his “Year of Efficiency” in 2023. Meta achieved a peak valuation of US$1.08 trillion in September 2021 and then again two weeks after that. However, the company then slumped into oblivion, valued at just US$235.76 billion back in November 2022, marking a five-year low.
It was a huge blow for a company making large investments in its future, including the metaverse. Meta stock was forced to shift to cuts, laying off workers and reining in costs. Should Meta stock achieve the trillion-dollar mark, it would be amongst just four others currently sitting in that territory.
So, how can Canadian investors get in on this action besides investing directly in Meta stock?
Invest directly, sort of
One option that Canadian investors can take is by looking for exchange-traded funds (ETF) that invest in these trillion-dollar companies. Meta stock is picked up by numerous ETFs, but I wouldn’t necessarily look for those investing in pure-play tech companies.
Instead, it might be more prudent to look for ETFs that invest in Meta but also provide a broad range of other investments. This will provide you with a diversified portfolio that gives you a competitive advantage should Meta stock drop again.
A strong option to consider is TD Active Global Equity Growth ETF (TSX:TGGR). TGGR ETF looks to provide investors with long-term capital growth. It invests in equities and securities around the world, in companies with “strong, sustainable franchises and strong capital allocation policies.”
So, while this includes Meta stock, it also includes the other trillion-dollar companies as well as a broad range of companies in different sectors and industries. Plus, it trades at just $23.85 as of writing, making it far cheaper than Meta stock.
Look at partnerships
Another way to invest in Meta stock is to look at companies the stock partners with. That really is quite narrow when you look at Canadian companies and even more so when looking at those on the TSX today — but not impossible.
One company to consider would be Wonderfi Technologies (TSX:WNDR). Meta stock’s Venture Capital Partnerships team gave strategic advice to the fintech company. It’s helping the stock grow its marketing, performance, and regulatory compliance.
This is certainly a riskier option, but with shares trading at just $0.20, you could afford a small stake to see what happens. In any case, Meta stock looks like it’s going up. So, now could be a great time to make your connections.
