What's Going On With Meta Platforms Stock?
Portfolio Pulse from Erica Kollmann
Meta Platforms, Inc. (NASDAQ:META) shares have risen 3% over the past five days. Three significant court decisions this week impact Meta: a U.S. district judge rejected Meta's bid to dismiss a lawsuit over fake ads, the U.S. Supreme Court declined to limit government communication with social media platforms, and a U.S. appeals court ruled Meta must face a lawsuit over hiring practices. Despite legal challenges, Meta shares have gained over 45% year-to-date and are trading above their 50-day moving average.
June 27, 2024 | 7:53 pm
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Meta Platforms faces three significant court rulings: a lawsuit over fake ads, no limits on government communication with social media, and a lawsuit over hiring practices. Despite these challenges, META shares are up 3% in the past five days and over 45% year-to-date.
The court rulings present legal challenges for Meta, but the stock's recent performance and year-to-date gains indicate investor confidence. The stock is trading above its 50-day moving average, suggesting positive momentum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100