Shares of Meta Platforms are having a moment, fueled by excitement from Wall Street and consumers alike around the Facebook-parent's consumer artificial-intelligence model Muse and the company's overarching AI ecosystem.
The stock's recent surge could just be the beginning if it's able to claim a key price level.
Meta stock declined 0.6% to $772.33 in premarket trading on Friday after ending Thursday up 4.5%. Even as shares fell Friday, the stock has risen more than 16% this week and was on pace for its best monthly gain in more than 13 years, according to Dow Jones Market Data.
Muse ignited the rally, with both the company and analysts claiming it may be the biggest AI release since OpenAI's ChatGPT stormed onto the scene. Meta followed up the release with its Connect keynote presentation and Wall Street has been busily raising price targets on the stock as upside seems much more attainable.
While Meta stock has risen solidly this month, the stock price has remained stubbornly below the $800 price level. Shares on Friday were 2% below their record closing high of $790 from Aug. 12, 2025.
The stock has also been range-bound for more than a year, trading around the $600 level and to the high $790s, according to chart analysis. If shares are able to break out of that range and claim the $800 price level, the recent Muse rally might just be the beginning.
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