Jim Cramer‘s two-word reaction — “makes sense” — to a seasonal market stat may not look like much. But paired with Carlson Group’s Chief Market Strategist Ryan Detrick’s observation that stocks often bottom around Dec. 15 and rally into year-end, it raises a familiar question for traders: which leaders are positioned to benefit if that pattern repeats?

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Within the Mag 7, one name clearly stands out.

Meta Leads The Mag 7 Drawdown List

Among the seven mega-cap tech leaders, Meta Platforms Inc (NASDAQ:META) is the furthest from its 52-week high. The stock is trading near $647, roughly 19% below its peak of $796, making it the most beaten-down Mag 7 name on a peak-to-current basis. By comparison, Nvidia Corp (NASDAQ:NVDA) is about 17% off its highs, Microsoft Corp (NASDAQ:MSFT) roughly 15%, and Amazon.com Inc (NASDAQ:AMZN) closer to 14%. Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), and Tesla Inc (NASDAQ:TSLA) remain within single digits of their peaks.

That relative gap matters in seasonal setups. Year-end rallies, when they happen, often start with laggards among leaders, not the stocks already hugging highs.

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Valuation Adds Context To The Pullback

Meta’s drawdown isn’t happening alongside extreme valuation stress. The stock trades at a forward P/E in the low 20s, according to Benzinga Pro data, lower than several Mag 7 peers, despite maintaining strong cash generation and advertising exposure tied to economic activity.

While the stock is still up modestly year to date, recent weeks have seen consistent pressure, pushing it to the bottom of the Mag 7 performance table on a monthly basis.

That combination — leadership status, a meaningful pullback, and relatively moderate forward valuation — is what puts Meta back on traders’ radar as December seasonality comes into focus.

Why This Setup Is Getting Attention

Cramer’s comment isn’t a call to buy. It’s an acknowledgment of a historical pattern. If markets do follow the typical late-December script, investors tend to look first at which leaders have room to catch up, not which ones have already run.

Right now, the data says Meta fits that profile better than any other Mag 7 stock.

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