Why Meta Platforms Is Sinking Today
Shares of Meta Platforms (NASDAQ: META) are sliding on Tuesday. The social media giant's stock lost 4.1% as of 2:30 p.m. ET and was down as much as 5% earlier in the day. The drop outpaces the broader market decline, as the S&P 500 (SNPINDEX: ^GSPC) fell 1.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 1.9%.The company behind social media platforms Facebook, Instagram, WhatsApp, and Threads faced pressure after an analyst lowered its price target amid a wider tech sell-off.KeyCorp reduced its price target on Meta from $750 to $710 in a report released Tuesday, maintaining its "overweight" rating. While the new target still represents a decent upside from Meta's current price, the drop was significant.Continue reading
Shares of Meta Platforms (NASDAQ: META) are sliding on Tuesday. The social media giant's stock lost 4.1% as of 2:30 p.m. ET and was down as much as 5% earlier in the day. The drop outpaces the broader market decline, as the S&P 500 (SNPINDEX: ^GSPC) fell 1.3% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 1.9%.
The company behind social media platforms Facebook, Instagram, WhatsApp, and Threads faced pressure after an analyst lowered its price target amid a wider tech sell-off.
KeyCorp reduced its price target on Meta from $750 to $710 in a report released Tuesday, maintaining its "overweight" rating. While the new target still represents a decent upside from Meta's current price, the drop was significant.
