Starting the week on a bullish note, Meta Platforms (META +6.16%) stock closed 3% higher yesterday, up from its finish the previous market session. Shares of the social media stock continued their ascent today after the company provided insight into its new image-generation model.
Shares of Meta closed 2.6% higher today, after retreating from an earlier 4.2% gain.
Image source: Getty Images.
Drawing a picture of its new image-generation tool
Meta announced today that its first image-generation model from Meta Superintelligence Labs is now available in Meta AI.
NASDAQ: META
Key Data Points
Dubbed Muse Image, the model is available across various Meta platforms, including Instagram and WhatsApp. According to the company, Muse Images uses "advanced reasoning to understand complex prompts, seamlessly blending multiple photos into high-quality creations you can download and share anywhere -- including directly to your chat, story, or feed."
Muse Image will soon be available on Facebook, Messenger, and to advertisers through Meta Advantage+ creative.
Is Meta stock a buy on today's news?
Today's announcement of Muse Image is noteworthy, but it's hardly sufficient, in and of itself, to justify buying Meta stock. Now, however, seems like a great time for another reason. Trading at 11.6 times operating cash flow, a discount to its five-year average cash flow multiple of 13.7, Meta stock is currently sitting in the bargain bin. For investors seeking a summer buying opportunity, Meta stock is worth a close look.
