Meta Defies EU's Digital Markets Act Amidst Soaring Stock Success - Surging 9% For November
Portfolio Pulse from Zaheer Anwari
Meta Platforms Inc (NASDAQ:META) is appealing the European Union's Digital Markets Act (DMA) designation as a 'gatekeeper' service. Despite regulatory challenges, Meta's stock has surged 171% year to date, with a 10% increase in November alone. Following Q3 earnings, the stock rose 11%, nearing last year's high of $343. The stock closed at $332.77 on November 15.
November 16, 2023 | 5:20 pm
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POSITIVE IMPACT
Meta is appealing the EU's DMA decision, showing strong stock performance with a 171% increase YTD and an 11% rise post-Q3 earnings, nearing a significant resistance point at $343.
Meta's stock has shown resilience despite regulatory challenges, indicating strong investor confidence. The appeal against the EU's DMA and the positive earnings report contribute to a bullish outlook in the short term. The stock's performance and proximity to a key resistance level suggest continued investor interest and potential for further gains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100