Why Meta Platforms Stock Topped the Market Today
Somewhat atypically, Meta Platforms (NASDAQ: META) stock rose higher on Thursday because of a potential acquisition. The social media giant, not typically known for being an aggressive asset buyer, saw its shares close more than 2% higher as a result. This was on a day when the S&P 500 index could only muster an 0.8% rally.It helps greatly that the apparent acquisition target concentrates on artificial intelligence (AI), the hot technology of our age. On Thursday, Bloomberg, citing unnamed "people familiar with the matter," wrote that Meta was close to acquiring privately held PlayAI, a niche company specializing in AI voice replication technology. Image source: Getty Images.Continue reading
Somewhat atypically, Meta Platforms (NASDAQ: META) stock rose higher on Thursday because of a potential acquisition. The social media giant, not typically known for being an aggressive asset buyer, saw its shares close more than 2% higher as a result. This was on a day when the S&P 500 index could only muster an 0.8% rally.
It helps greatly that the apparent acquisition target concentrates on artificial intelligence (AI), the hot technology of our age. On Thursday, Bloomberg, citing unnamed "people familiar with the matter," wrote that Meta was close to acquiring privately held PlayAI, a niche company specializing in AI voice replication technology.
Image source: Getty Images.
