Why Meta Stock Traded Lower Today
Portfolio Pulse from Ryan Gustafson
Meta Platforms, Inc. (NASDAQ:META) shares traded lower amid the company's Connect 2023 Keynote event and the announcement of the departure of the company's AI chief, Alexis Black Bjorlin. The company showcased the Quest 3 VR headset, which is supported by an advanced Qualcomm chip. Guggenheim analyst Michael Morris maintained Meta Platforms with a Buy and raised the price target from $375 to $380.
September 27, 2023 | 8:59 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Meta Platforms shares traded lower due to the company's event and the departure of the AI chief. The company showcased the Quest 3 VR headset and received a price target increase from Guggenheim.
The departure of the AI chief and the company's event caused the stock to dip. However, the showcasing of the Quest 3 VR headset and the price target increase from Guggenheim could potentially offset the negative impact in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100