We're buying 80 shares of Meta Platforms (FB) at roughly $211.02 each. Following Monday's trade, the portfolio will own 300 shares of FB, increasing its weighting in the portfolio to about 1.94% from 1.43%. We're making another in the Facebook parent as we continue to look for opportunities to get bigger in this name. Remember when building positions in a volatile market, we like to be patient and wait for the stock to move against us and then scale in on every 3% to 5% increment. Shares were down roughly $9, or nearly 4%, since our last buy one week ago. Our thesis in FB is quite simple. At less than 18x forward earnings, we think a lot of the issues that ailed the company last quarter are priced in. Whether it be ongoing competitive threats from TikTok or the monetization transition to Reels — which mirrors past transitions and management has a proven track record on this type of stuff — we think the market is being too negative on this premier social media stock. One of the big question marks facing FB this quarter is the size of the advertising targeting headwinds associated with Apple 's (AAPL) privacy change. We're mindful of the overhang this uncertainty has put on the stock but willing to be patient and buy shares ahead of the fix due to how cheap the stock is and the re-rating that will follow. (Jim Cramer's Charitable Trust is long FB and AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.