Why Meta Platforms Stock Keeps Falling
For the third day in a row, investors kept selling off shares of social media giant Meta Platforms (NASDAQ: META), the former Facebook. Through 1:45 p.m. ET Tuesday, the shares are now down a combined 12.5%, including today's 4% fall.
And while Snap (NYSE: SNAP) may have sparked this sell-off last week, today, Meta's losses are largely its own doing.
On Friday as you probably recall, Meta rival Snap announced a "snap" slowdown in its sales growth -- down two-thirds sequentially to just 13% -- and with no profits, either. Meta stock has been selling off in sympathy with that news ever since. And today, Meta investors got more bad news.
Source Fool.com
