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Why Meta Platforms Stock Was Volatile on Monday

TheMotleyFool

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Why Meta Platforms Stock Was Volatile on Monday: https://g.foolcdn.com/editorial/images/705982/an-influencer-setting-up-a-phone-before-a-vlog-post.jpg

Shares of Meta Platforms (NASDAQ: META) initially slipped on Monday, falling as much as 4.2%. By 2:44 p.m. ET, however, the stock had regained some of its losses, trading down about 0.2%.

Two pieces of competing news vied for shareholder attention as investors in the social media titan digested an analyst downgrade and commentary from an activist investor.

The first catalyst came when BofA analyst Justin Post downgraded Meta Platforms to neutral (hold) from buy, while also slashing the company's price target from $196 to $150. The analyst cited marketing departments cutting their budgets for the remainder of this year and into next, which will weigh on Meta's advertising revenue.

Source Fool.com

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