Shares of Meta Platforms (NASDAQ: META) rallied Friday, gaining as much as 4.6%. As of 1:40 p.m. ET, the stock was still up 3.6%.

The improving read on inflation lifted most stocks, but there were several specific catalysts that added fuel to Meta's rise. There were additional signs of a rebound in the digital advertising market, the company was on the receiving end of an upgrade by an investment bank, and reports emerged that Meta is working to boost retention rates for its recently launched Twitter competitor, Threads.

Roku reported second-quarter results after the market close on Thursday, and the company's results seemed to confirm the beginnings of a rebound in the digital advertising market.

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Source Fool.com