Public Investment Fund Cuts Share Stake In Meta Platforms Inc By 77.3% To 740,013 Class A Shares
Portfolio Pulse from Benzinga Newsdesk
The Public Investment Fund (PIF) has significantly reduced its stake in Meta Platforms Inc, cutting its holdings by 77.3% to 740,013 Class A shares.
May 15, 2024 | 3:10 pm
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The Public Investment Fund has reduced its stake in Meta Platforms Inc by 77.3%, now holding 740,013 Class A shares. This significant reduction could indicate a lack of confidence in Meta's short-term performance or a strategic reallocation of PIF's portfolio.
A substantial reduction in holdings by a major investor like the Public Investment Fund can signal to the market a lack of confidence in the company's short-term prospects or a strategic shift in investment. This could lead to a negative sentiment around Meta's stock, potentially driving the price down in the short term.
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