Why Meta Stock Popped 5% This Week
Shares of Meta Platforms (NASDAQ: META) jumped this week on no company-specific news. Instead, Meta's gains came as the broader market indices rose as investors shrugged off some of their previous concerns about inflation and the economy and started snatching up shares of technology companies again. As a result, Meta's stock climbed 4.4% this week, as of this writing.
Meta's big jump this week occurred on Tuesday as the tech-heavy Nasdaq Composite spiked 4.7%. In response, Meta's stock popped 8.7%, though the company gave up some of those gains later in the week.
Investors were generally optimistic about tech stocks this week, with some potentially believing that the tech sell-off that's occurred in the market over the past year may have finally reached its bottom.
Source Fool.com
