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Meta stock retreats after Trump’s negative post

The Magnificent Seven stocks started the week on mixed footings, with Meta Platforms sliding after former president Donald Trump called Facebook “an enemy of the people.”

Trump made the statement while discussing TikTok in an interview Monday morning with CNBC. U.S. lawmakers are advancing a bill that could effectively ban or force the sale of the video app from its Chinese owners, a bill President Biden has said he would sign.

Trump’s post on Truth Social

“Without TikTok, you can make Facebook bigger, and I consider Facebook to be an enemy of the people, along with a lot of the media,” Trump said.

Meta stock was recently down more than 3%.

Trump, who has criticized the measure, made similar comments on his Truth Social social-media platform last week.

Some executives have discussed buying TikTok, the Journal reported earlier today.

Among other Magnificent Seven movers Monday, shares of Tesla, Apple and Alphabet were recently higher, while Nvidia, Amazon, and Microsoft retreated.


Source:WSJ/Truth Social
Image: Meta