Meta stock is so strong

Any else notice how strong meta has been this year?

The chart is strait up, a prefect line . Even when the Nasdaq was down 1.5 percent this week, Meta was still up, closing at 288, a new year high. I bought FBL, which is a 1.5x leveraged etf (a rather obscure one at that) that tracks Meta, and up a lot.

Maybe it is doing so well due to the realization that Meta completely dominates much of the web, owning Instagram + Facebook + WhatsApp, and TikTok is fading from relevance, maybe.

It's just crazy how well it has done over the past year when there was so much pessimism in 2022. afik, the best performing stock on the S&P 500 I think, and $700 billion dollar company.