Meta stock falls significantly!
Shares of Facebook and Instagram parent Meta Platforms fell Today!
Significantly under performing the broader market, making them among the worst performers on the S&P 500.
Tweet on Meta plunging stock today
Shares Meta Platforms fell Tuesday!
underperforming the broader market, making them among the worst performers on the S&P 500. The stock was recently down 6%
Other stocks suffered, including Paramount Global and Match Group, which were both down over 7%.#meta #stocks #tech pic.twitter.com/Qc7WIkp0UF— The_Journalbiz (@the_journalbiz) December 6, 2022
FactSet chart on Meta and Match stock under-performance
The stock was recently down 6%, making it a drag on the S&P 500’s Communications Services sector, which was off 2.4%.
Other sector stocks also fell, including Paramount Global and Match Group, which were both down more than 7%.
The Journal earlier reported that European Union privacy regulators have ruled that Meta shouldn’t require its users to agree to personalized ads based on their online activity; the ruling was seen as a blow to the company’s advertising business.
EU privacy regulators say Facebook and Instagram shouldn’t use their terms of service to require users to accept ads based on their digital activity
Meta has for years allowed users to opt out of personalizing ads based on data from other websites and apps.
Meta’s shares are down some 65% this year. At its intraday low today, it was on pace for its biggest one-day percentage loss since October, according to Dow Jones Market Data.
