Why Meta Platforms Stock Is Slipping Today
Meta Platforms (NASDAQ: META) stock is losing ground Wednesday. The tech giant's share price was down 2% as of 2 p.m. ET and had been down as much as 2.9% earlier in the daily session.
Meta's valuation is moving lower following news that its WhatsApp messaging platform will fall under new regulations in the European Union. Despite a modest pullback today, the stock is still up roughly 48.5% over the last year.
In a filing submitted on Feb. 14, Meta Platforms revealed that it had roughly 46.8 million average monthly active users on its WhatsApp platform across the six-month period that concluded on Dec. 31. While growth for WhatsApp is good news in many respects, the service is now above the 45 million user threshold that causes platforms to fall under the European Union's Digital Services Act. A spokesperson from the European Commission confirmed that WhatsApp would now be subject to the tighter regulations that come with the "very large online platform" designation under the law.
Source Fool.com
Meta Platforms Inc. Stock
With 11 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 627 € there is a slightly positive potential of 12.53% for Meta Platforms Inc. compared to the current price of 557.2 €.
