Why Meta Platforms Stock Had a Roller-Coaster Tuesday
Meta Platforms (NASDAQ: META) had one of those rather directionless days on the market Tuesday. A mix of positive and negative news emanated from the social media giant's latest legal tussle, and investors couldn't really decide whether the good outweighed the bad or vice versa. As a result, Meta's stock swung from a high of 1.5% over Monday's close to a nearly 2% decline, finally ending the session down about 0.5%.
Investors have been cool recently on tech stocks in general, Meta included. Compounding that on Tuesday, the company won a legal victory across the Atlantic -- of sorts.
Meta prevailed on five of the six grounds of a legal appeal in the U.K. The Competition Appeal Tribunal ruled in favor of the company, which was appealing the reversal of its acquisition of animated images site Giphy.
Source Fool.com
