It's fashionable in various circles to hate on Facebook (NASDAQ: FB) these days.
Detractors have charged it with being both an enemy of democracy and a greedy monopolist. and the company's reputation has suffered significantly recently. Last summer, a number of its biggest advertisers signed on to the #StopHateforProfit boycott, which accused Facebook of fostering hate speech. More recently, CEO Mark Zuckerberg and his management team were forced to eat crow when the company de-platformed President Donald Trump after Trump loyalists stormed the Capitol, some of whom had organized their efforts on Facebook. Critics have long assailed the company for not doing more to stem violent actors on its platforms.
Whether or not Facebook is good for society is certainly debatable, but one thing isn't: Facebook is an outstanding business, and the stock has been nothing but a winner since its 2012 IPO. Despite the controversy and even a Democratic takeover of Congressional leadership and the presidency, the stock still looks poised for a strong 2021. Here's why.