Pete Najarian Isn't Worried About Snap Weighing On Facebook, Says Meta Could Bounce Back To This Price 'In A Heartbeat'

Zinger Key Points
  • Pete Najarian says Meta stock has fallen so far that it won't take much for it to bounce back.
  • He notes that Meta is trading about 16 times forward earning, while Snap is at 62 times forward earnings.

Snap Inc SNAP is dragging down the rest of the social media stocks on Tuesday and one investor sees an opportunity amid the move.

What To Know: Snap shares are in free fall after the company warned it expects to miss its previously-issued forecast. 

Meta Platforms Inc FB is falling alongside Snap, but Market Rebellion co-founder Pete Najarian says it shouldn't be.

"When you look at the fundamentals of Facebook or Meta and you look at the fundamentals of Snap, they are not comparable. They are not even in the same ballpark of comparable," Najarian said Tuesday on CNBC's "Fast Money Halftime Report."

Meta has a market cap of about $525 billion and is trading about 16 times forward earnings, according to data from Benzinga Pro. Snap has a market cap around $38 billion, and it's trading around 62 times forward earnings.

"You're putting the biggest dog on the street against some little dog that's barking against it. I'm not worried about that little dog," Najarian said.

See Also: This Investor Just Swapped Amazon Stock For Meta Platforms: Here's Why

Although investor sentiment surrounding Meta has turned more negative, the stock has already fallen so far, it won't take much for it to bounce back, Najarian suggested. 

"Meta's a name that absolutely can be back up towards $200 in a heartbeat," he said. 

FB Price Action: Meta shares have traded between $169 and $384.33 over a 52-week period.

The stock was down 8.24% at $180.07 at time of publication.

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