Why Meta Platforms Stock Flopped on Friday
One of the more useful functions of Meta Platforms's (NASDAQ: META) core Facebook site is its messaging service. So it wasn't surprising that the company's share price fell on news that its messaging will no longer be available as a stand-alone app in a top mobile marketplace in China. Meta's stock closed Friday more than 4% down in price, which was a far steeper tumble than the 0.9% drop of the S 500 index.
Before market open, The Wall Street Journal reported that a clutch of popular messaging apps were removed from 's App Store that day. This included Facebook Messenger, plus Telegram and Signal. The iPhone maker said this was done by request, with rather vague "national security concerns" cited as the reason.
The quoted an unnamed Apple spokesperson as saying that "We are obligated to follow the laws in the countries where we operate, even when we disagree."
Source Fool.com
Apple Inc. Stock
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