Make Meta Marvelous With This Income ETF
On news that the company is planning to raise $95 billion to fund artificial intelligence (AI) spending, including a $35 billion stock offer, shares of Meta Platforms (META) have been walloped in recent weeks, shedding more than 16% over the past month.
Declines of more than 10% mark a correction. With the social media stock residing 19.14% below its 52-week high, Meta is ominously flirting with a bear market. But it doesn’t mean that this Magnificent Seven giant will slump forever. There are options for investors who want to be involved with Meta today and still be compensated for doing so. This includes the Direxion META Defined Income Boost ETF (MEIB).
Launched in late July, MEIB may offer an ideal avenue for investors who want to nibble at embattled Meta in the near term. Market participants are applying closer scrutiny to AI expenditures. With Meta paying a barely noticeable dividend, MEIB may be that much more attractive. Especially when alternative income is top of mind for many investors.
Source: https://etfdb.com/leveraged-inverse-content-hub/make-meta-marvelous-with-this-income-etf/
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