Meta Platforms stock to snap record monthly win streak, in which it had more than tripled

Shares of Meta Platforms Inc.
META,
+0.27%
rose 0.8% in afternoon trading, but were still on track to snap their longest win streak on record. The stock has bounced 4.8% since it closed at a seven-month low of $283.25 on Aug. 18, but has shed 6.7% in August, which would be the first monthly decline in 10 months. The nine-month win streak through July, in which the stock rocketed 242%, was the longest for the social media giant’s stock since it went public in May 2012; the next-longest win streak was the six-month stretch that ended in August 2021. The stock has soared 147.1% year to date, while the S&P 500
SPX,
-0.16%
has advanced 17.7%.