Why Meta Platforms Stock Flew Higher on Friday
You can't keep a good stock down, and judging by its performance Friday Meta Platforms (NASDAQ: META) is considered a good stock by the investing world. Shares of the social media bellwether inched up by nearly 2% that day, despite a bearish new note from an analyst and a potentially challenging development on the regulatory front.
With the S&P 500 index rising incrementally on Friday after being absolutely hammered in previous sessions, a trickle of optimism returned to the exchanges. Investors were less shy to snap up shares of sector leaders, and Meta is the meta-stock of the social media world.
A potentially higher rise might have been curbed by negative developments. That morning, Bank of America analyst Justin Post trimmed his price targets on several top tech sector names, including Meta, on fears of potentially slowing macroeconomic growth affecting ad spending.
Source Fool.com
