Shares of Meta Platforms Inc. inched 0.55% higher to $564.41 Monday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ Composite Index rising 0.14% to 17,

Shares of Meta Platforms notched a new record close on Thursday. Shares of the parent of Facebook and Instagram have been on a run lately, trading higher six out of the past seven days, according to Dow Jones Market Data,

The social media giant has delivered robust returns over the past year, and it seems capable of soaring higher.

S&P 500 giant Meta Platforms is Friday's IBD Stock Of The Day, as the Facebook-parent declined slightly during market trade but is in a buy zone from an official entry amid Meta's nearly 60% rally this year.