Hedge Funds Still Believe in Facebook: Goldman Sachs [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
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Source: TheStreet.com
The world's biggest hedge funds continue to be bullish on social media giant Facebook despite its recent troubles, Goldman Sachs data shows. Brian Sozzi Aug 21, 2018 5:44 AM EDT Facebook's ( FB ) lukewarm second quarter -- and massive negative market reaction to it -- hasn't shaken the confidence of too many bullish hedgies. Nearly 100 hedge funds owned the social media giant's stock as a top 10 portfolio position at the start of the third quarter, according to new Goldman Sachs data. That positioning continues to earn Facebook the most popular stock among hedge funds award, based on the top 10 largest hedge funds Goldman tracks. Amazon ( AMZN ) is a distant second on the list. Number of funds with 10 to 200 positions owning the stock: Facebook: 145 Amazon: 115
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