What Is Going On With Meta Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Meta Platforms, Inc (NASDAQ:META) stock is down Wednesday as the company begins its third round of layoffs, affecting close to 10,000 workers. Meta also lost a lawsuit against EU regulators and faces a $1.3 billion penalty for user privacy invasion.
May 24, 2023 | 3:00 pm
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Meta Platforms, Inc (NASDAQ:META) stock is down due to the third round of layoffs, a lost lawsuit against EU regulators, and a $1.3 billion privacy penalty.
The third round of layoffs may negatively impact employee morale and productivity. The lost lawsuit and $1.3 billion penalty for user privacy invasion could harm Meta's reputation and financial position, leading to a short-term negative impact on the stock price.
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