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The Nasdaq and S&P 500 headed to all-time highs on Monday, fueled by tech stocks as interest rates remain low, while investors awaited data on the U.S. labor market due on Friday.

On June 17, 1997, Chris Hill started working at The Motley Fool. In this episode of MarketFoolery, he shares a few investing lessons he's learned over the years, talks about how he's trying to think more like a Zen master, and recounts the time he bought a stock while he was high

A U.S. judge dismissed a Federal Trade Commission antitrust lawsuit against Facebook Inc on Monday and said an amended complaint should be filed by July 29.

The White House is working on an antitrust executive order that aims to push government agencies to consider how their decisions will impact competition in an industry, according to two sources familiar with the matter.

The White House is working on an antitrust executive order that aims to push government agencies to consider competition concerns in their decision making, according to two sources familiar with the matter.

Russia filed new charges against Facebook, Google, Telegram and Twitter on Monday, alleging they failed to delete content deemed illegal, Interfax news agency reported.

Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Russell 1000 Growth ETF, which added 25,350,000 units, or a 10.0% increase week over week. Among the largest underlying components of IWF

Top telecoms executives called for a total overhaul of Europe's regulatory framework on Monday, using the platform of the Mobile World Congress to amplify their demands for unified oversight across the 27-nation bloc.

Denmark's media industry is banding together to negotiate payments for news with Google and Facebook, the first attempt in Europe to collectively pursue claims with the tech giants.

The S&P 500 and the Nasdaq were on pace to open near record levels as tech-related growth stocks edged up, while investors awaited data on the health of a U.S. labor market recovery and corporate earnings later in the week.

U.S. stock futures were flat Monday morning, as caution hit the market amid a spike in coronavirus cases in some of the key markets around the world. A spike in coronavirus in Asia and Australia appears to be fueling some concerns. Those concerns are curtailing any movement to the upside, following last week’s bounce-back.

The Dow Jones Industrial Average futures was down 0.15%, Nasdaq Futures up 0.17% and S&P 500 down 0.03% at the time of writing, pointing to a cautious open later in the day. A cool-down in the bullish momentum comes after the major indices reached record highs last week on weaker-than-expected U.S. inflation data. News of a bipartisan U.S. infrastructure agreement also helped boost risk appetite, sending the major indices higher.

Once the North America session opens, the focus will be on Jefferies Financial Group Inc. (JEF), LiveXLive Media Inc. (LIVX), High Tide Inc. (HITI), WeTrade Group Inc. (WETG), and Key Energy Services Inc. (KEGX). All of those companies are expected to report their quarterly earnings reports.

Virgin Galactic (SPCE) was the most active in pre-market trading. The stock was up by 6.06%, with 922.84K shares exchanging hands at the time of writing. The spike came on the heels of the company's confirmation that it had been granted a license by the Federal Aviation Administration to fly passengers on future spaceflights.

Torchlight Energy (TRCH) was the biggest gainer, with its shares jumping 140.20% on a volume of 48.04K shares at the time of writing. The rally comes on the company's announcement that it has paid a special Series A preferred stock Dividend. The company has also implemented a 1 for 2 reverse stock split of its common stock.

Greenland Technologies (GTEC) was the biggest loser in pre-market activity at the time of writing, dropping by 15.44% on a volume of 14.48k shares. The slide comes just days after the technology developer and manufacturer of industrial electric vehicles confirmed plans to offer ordinary shares for sale in an underwritten public offering. The company intends to use net proceeds from the offering for general corporate and working capital needs.

In M&A news, Amazon (AMZN) cloud unit Amazon Web Services is acquiring Wickr, a company that specializes in developing secure end-to-end encrypted communication technology. The technology should strengthen AWS messaging capabilities, allowing cloud users access to advanced security features not available in traditional messaging services.

“Enterprise customers use Wickr to keep communications between employees and business partners private, while remaining compliant with regulatory requirements,” said AWS in a press release.

Additionally, Rockwell Automation (ROK) has reached an agreement to acquire Plex Systems in a $2.22 billion transaction. The provider of industrial automation and digital transformation intends to finance the all-cash deal through short-term and long-term debt. The deal is expected to close in the fourth quarter.

Blake Moret, the company’s Chairman and CEO, said, “This acquisition will accelerate our strategy to bring the Connected Enterprise to life, driving faster time to value for our customers, as they increasingly adopt cloud solutions to improve resilience, agility, and sustainability in their operations.”

Paychex (PAYX) shares jumped 1.3% after the company reported impressive Q4 financial results for the fiscal quarter ended May 31. Adjusted earnings were up 18% year-over-year to $0.72 a share, as revenue rose 12% year-over-year to $1.03 billion. Earnings beat consensus estimates of $0.67 a share, and revenue topped estimates of $980.48 million.

President and CEO of Paychex Martin Mucci said, “Our fourth quarter results were driven by record client retention levels, record sales results, and stronger checks per client, which were driven by improving macroeconomic conditions and gains in employment.”

Facebook (FB) is planning to make it possible for Instagram users to share and post content using desktop computers. Bloomberg reports that the social networking giant has been testing the desktop posting and sharing feature.

“We know that many people access Instagram from their computer…To improve that experience, we’re now testing the ability to create a Feed post on Instagram with their desktop browser.” said Christine Pai, Facebook spokeswoman.

Apple (AAPL) is seeking a five-year extension on its planning permit for its $1 billion data center in Galway, Western Ireland. According to the Business Post, if successful, the company will have until 2026 to build the data center. As it stands, the company has until September 21 to have the facility up and running.

Facebook Inc-owned WhatsApp messenger said on Monday it was appointing a former Amazon executive as the head of payments in India as it looks to scale the service in its biggest market by users.

Futures tracking the S&P 500 paused at an all-time high on Monday as investors stayed away from making big bets ahead of data on the health of a U.S. labor market recovery and corporate earnings later in the week.

Telecoms bosses toasted the return of Barcelona's Mobile World Congress on Monday with an agenda to put the industry at the centre of digital development and inclusion in a global reboot following the coronavirus pandemic.

Facebook (FB) is a stock that’s often viewed as one of the best value picks among mega-cap tech stocks. That's for good reason. Currently, Facebook trades at a forward price-earnings multiple of 22.5-times. For its peer group, that’s cheap. (See Facebook stock charts on TipRanks)

Indeed, Facebook’s inherent value alongside its long-term growth potential has enticed many high-profile investors to jump aboard. One investor many have their eye on, Michael Burry, has bet big on Facebook this past quarter.

Mr. Burry is the founder and manager of Scion Asset Management. Many investors know of Michael Burry via his portrayal in The Big Short, as one of the first to bet on the 2008/2009 housing collapse. He’s a person many view as a visionary. Accordingly, when he makes big bets, investors sit up in their chairs and pay attention.

Indeed, Mr. Burry’s recent use of call options to bet on Facebook has appeared to worked out well for this investor. Let’s dive a bit into what Mr. Burry’s position looks like, and why he may have decided now is the right time to pounce.

Burry Choosing Calls as the Investment Vehicle of Choice for FB Stock

When investors are bullish on the long-term prospects of a given company, most choose to go “long” via buying shares in said company. However, when investors are extremely bullish on the near- to medium-term potential of a given stock, buying call options can be a much more lucrative bet. Call options provide investors with greater upside potential (but higher downside risk), and are generally considered to reflect extremely high conviction on an upside move materializing in short order.

This past quarter, it was revealed through 13-F filings that Mr. Burry's fund had accumulated 550,000 call options on FB stock worth approximately $192 million. This made Facebook the number two holding of the fund, behind Alphabet (GOOG), at $195 million.

It’s important to note that these 550,000 call options were acquired some time during the past quarter. Accordingly, the exact timing of this bet is unknown. However, looking at the rather impressive year-to-date move we’ve seen in FB stock, it’s safe to say Burry has booked a nice profit on this trade, realized or not.

The timing of this trade is curious. It is also important to note that Facebook has been a favorite stock to trade for Mr. Burry in the past.

During the post-pandemic dip we saw in Q2 2020, Burry bet big on Facebook on the dip. At the time, Facebook calls took second place in Scion’s overall portfolio, as this famous investor bet big on a rebound in FB stock. He was right then, and it appears he’s right again.

Looking at his other top holdings, which included GameStop (GME), Goldman Sachs (GS), Booking Holdings (BKNG), and Alphabet (GOOG), investors can see why this guy is heralded as a genius in the investment community.

With Mr. Burry’s timing seemingly impeccable, investors are now forced to speculate as to whether Burry has sold out of his position, or whether he exercised these options. Given his previous moves in and out of calls in various stocks, it appears Scion’s upcoming 13-F filing will paint an interesting picture as to how bullish Mr. Burry is on Facebook’s prospects moving forward.

Is There Still Time to Capitalize on Facebook Stock?

As mentioned above, Facebook is a company that continues to trade at a relatively attractive valuation relative to its mega-cap tech peers. Accordingly, it’s a stock that has many value investors flocking to this growth stock for safety.

Indeed, such a view makes sense.

Facebook is among one of the top growth stocks among its mega-cap peers. The company’s forward revenue growth rate of 25% is incredible, given the company’s size. And Facebook’s profit margins are off the charts. The company produces gross margins of more than 80% currently. Thus, the amount of operating leverage with this stock is absolutely incredible.

Facebook’s ability to continue to monetize its platform has astounded investors who have held onto this name for the long haul. Indeed, all indications are that this level of high-quality, highly-profitable growth is likely to continue for some time.

As a long-term holding, Facebook stock now appears to be a holding catering to both growth and value investors. Accordingly, this is a stock many view as a unicorn in the markets today, and a relatively safe bet, given the margin of safety provided by Facebook’s robust growth rate.

What Analysts Are Saying About FB Stock

According to TipRanks’ analyst rating consensus, FB stock comes in as a Strong Buy. Out of 34 analyst ratings, there are 29 Buy recommendations, 4 Hold recommendations, and 1 Sell recommendation.

As for price targets, the average Facebook analyst price target is $386.19. Analyst price targets range from a low of $275.00 per share to a high of $460.00 per share.

Bottom Line

Few stocks match up to the long-term growth potential of Facebook right now. This is a company which trades at a relative discount to its peer group, offering some of the best fundamentals of its group.

Additionally, Facebook is a stock that Michael Burry likes. Enough said.

Long-term investors will do well to consider this stock on any dips. Indeed, it appears Mr. Burry is selective with his entry points, and it’s unclear as to whether he’s currently holding Facebook. That said, the fact that he’s stepped into this stock on numerous occasions in the past is an indication of Facebook’s risk-reward profile today.

Disclosure: Chris MacDonald held no position in any of the stocks mentioned in this article at the time of publication.

Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.

Top telecoms executives called for a total overhaul of Europe's regulatory framework on Monday, using the platform of the Mobile World Congress to press calls for unified oversight across the 27-nation bloc.

Facebook's (FB) video and photo sharing app, Instagram, could soon allow users to post photos and videos from their desktop computers. Bloomberg reports that the networking company has been testing a new desktop posting and sharing feature.

According to a Bloomberg report, Facebook is looking to reverse its restriction on desktop sharing, given that most people posting on the app are professionals and influencers. Most of these people rely on edited and produced images and videos from other devices.

Given the high level of usage of third-party tools to edit and upload content on Instagram via the desktop, the need for a desktop version of the Instagram app has become urgent. (See Facebook stock chart on TipRanks)

“We know that many people access Instagram from their computer…To improve that experience, we’re now testing the ability to create a Feed post on Instagram with their desktop browser.” said Christine Pai, Facebook spokeswoman.

According to Matt Navarra, enabling desktop posting and sharing is part of a much bigger plan for the Facebook app. The social media consultant expects the move to allow Instagram to entice more content creators that have a set base in rival apps such as Alphabet’s (GOOGL) YouTube and TikTok.

Recently, KeyBanc analyst Justin Patterson has reiterated a Buy rating on the stock. Patterson did not assign a price target on the stock. He believes that the integration of advertisements on Oculus headsets and Instagram Reels can generate more ad revenue for the networking company.

Patterson said "Facebook is planning to test Oculus headset ads within a handful of games in the coming weeks. Facebook will leverage first-party data and VR data to target ads to Oculus users. As part of the test, Facebook will collect information such as if a user interacted with an ad. We see this experiment as an important step to help VR developers monetize content on the Oculus platform."

Consensus among analysts is a Strong Buy based on 29 Buys, 4 Holds, and 1 Sell. The average Facebook analyst price target of $386.19 implies 13.13% upside potential to current levels.

FB scores a "Perfect 10" on TipRanks' Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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New York prosecutors have told lawyers for former U.S. President Donald Trump they must respond by Monday with any last arguments as to why criminal charges should not be filed against his family business, the Washington Post reported on Sunday.

[Updated 06/24/2021] Google Update