Meta's stock performance continues to weaken. Compared to $SPY, $META hit a nearly 2-year low; relative to the $QQQ tech index, it fell to a 2-year low; among the tech large-cap stocks in the $MAGS camp, its relative valuation also reached a 2.5-year low. Market sentiment is clearly under pressure. Whether this decline can find support remains to be seen—if it continues to fall, it might be mocked again as "counter-timing." The current position may be worth noting for medium- and long-term investors, but short-term rebound signals still need confirmation.