Meta Platforms, Inc. ($META) Stock Forecast: Down 1.7% Today

What is Meta Platforms, Inc.?

META Platforms, Inc. (META) is a tech company known for its various platforms and services driven by AI technology. Today, the stock experienced a significant bearish movement.

Why is Meta Platforms, Inc. going down?

META stock is down 1.7% on Sep 3, 2024 14:45

• META's bearish movement today might be attributed to profit-taking by investors after a strong YTD performance.
• The potential investments by Apple and Nvidia in OpenAI, a competitor in the AI landscape, could have raised concerns about increased competition for META in the AI sector.
• The suspension of X (formerly Twitter) in Brazil, owned by Elon Musk, due to a feud with a Brazilian judge over free speech and misinformation, might have created uncertainty in the tech industry, impacting META's stock negatively.
• Despite being among Goldman Sachs' Best Hedge Fund Stock Picks, the overall market sentiment and external factors seem to have influenced META's bearish movement today.

META Price Chart

META News

META Shares Rise 47% YTD: Can AI Focus Further Drive the Stock?

Meta Platforms' shares jump YTD, driven by the expanding use of AI in its various platforms.

https://www.zacks.com/stock/news/2330550/meta-shares-rise-47-ytd-can-ai-focus-further-drive-the-stock

Meta Platforms, Inc. (META): Among Goldman Sachs’ Best Hedge Fund Stock Picks

We recently compiled a list of the Goldman Sachs’ Best Hedge Fund Stock Picks: Top 20 Stocks. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against Goldman Sachs’ other hedge fund stock picks. The close of August has marked a highly awaited paradigm shift on Wall Street […]

https://www.insidermonkey.com/blog/meta-platforms-inc-meta-among-goldman-sachs-best-hedge-fund-stock-picks-1343886/

Apple and Nvidia Poised to Supercharge OpenAI with Billion-Dollar Boost

Apple and Nvidia eye OpenAI, potentially boosting its value beyond $100B as they compete to dominate the AI landscape. Apple''s rare startup investment in OpenAI underscores its strategic push to lead in the competitive AI market. Nvidia''s growing influence in AI strengthens with potential OpenAI investment, intensifying the tech industry''s AI race. Apple and Nvidia are reportedly in talks to participate in a new funding round that would include investments in OpenAI. This move might increase the fortune of the founder of ChatGPT by almost $100 billion. The goal of this action is for both IT behemoths to hold onto their market shares in AI. With a $1 billion investment, renowned venture capital firm Thrive Finance is leading the funding round. It''s still unclear how much Apple, Nvidia, and Microsoft will contribute exactly. https://twitter.com/WatcherGuru/status/1829217971786416571 Apple''s Unconventional Move in the AI Race It''s noteworthy that Apple might make an uncommon investment in OpenAI.

https://cryptonewsland.com/apple-and-nvidia-poised-to-supercharge-openai-with-billion-dollar-boost/

Musk’s X banned in Brazil after disinformation row

X, formerly Twitter, has been banned in Brazil after failing to meet a deadline set by a Supreme Court judge to name a new legal representative in the country. Alexandre de Moraes ordered the “immediate and complete suspension” of the social media platform until it complies with all court orders and pays existing fines. The row began in April, with the judge ordering the suspension of dozens of X accounts for allegedly spreading disinformation. Reacting to the decision, X owner Elon Musk said: “Free speech is the bedrock of democracy and an unelected pseudo-judge in Brazil is destroying it for political purposes.” The social media network is said to be used by at least a 10th of the nation’s 200 million inhabitants. By Saturday morning some users had reported access to the platform was no longer possible. It closed its office in Brazil earlier this month, saying its representative had been threatened with arrest if she did not comply with orders it described as “censorship” – as well as illegal under Brazilian law.

https://nationnews.com/2024/08/31/musks-x-banned-in-brazil-after-disinformation-row/

X platform suspended in Brazil amid Brazilian judge''s feud with Musk

SAO PAULO — A Brazilian Supreme Court justice on Friday ordered the suspension of Elon Musk''s social media giant X in Brazil after the tech billionaire refused to name a legal representative in the country, according to a copy of the decision seen by The Associated Press. The move further escalates the monthslong feud between the two men over free speech, far-right accounts and misinformation. Justice Alexandre de Moraes had warned Musk on Wednesday night that X could be blocked in Brazil if he failed to comply with his order to name a representative. He set a 24-hour deadline. The company hasn''t had a representative in the country since earlier this month. In his decision, de Moraes gave internet service providers and app stores five days to block access to X, and said the platform will remain blocked until it complies with his orders. He also said people or companies who use virtual private networks, or VPNs, to access X will be subject to daily fines of 50,000 reais ($8,900). "Elon Musk showed his total disrespect for Brazilian sovereignty and, in particular, for the judiciary, setting himself up as a true supranational entity and immune to the laws of each country," de Moraes wrote.

https://www.voanews.com/a/x-platform-suspended-in-brazil-amid-brazilian-judge-s-feud-with-musk-/7766009.html

Trending Today

Arbitrum ($ARB) Crypto Forecast: Down 5.5% Today

Aptos ($APT) Crypto Forecast: Down 5.2% Today

Chainlink ($LINK) Crypto Forecast: Down 6.0% Today

Dogecoin ($DOGE) Crypto Forecast: Down 5.3% Today

Memecoin ($MEME) Crypto Forecast: Down 7.9% Today

Internet Computer ($ICP) Crypto Forecast: Down 5.8% Today

Binance Coin ($BNB) Crypto Forecast: Down 5.2% Today

Nervos Network ($CKB) Crypto Forecast: Down 5.0% Today

Pepe ($PEPE) Crypto Forecast: Down 6.3% Today

Lido DAO ($LDO) Crypto Forecast: Down 5.2% Today

Meta Platforms, Inc. Price History

03.08.2024 - META Stock was down 1.7%

• META's bearish movement today might be attributed to profit-taking by investors after a strong YTD performance.
• The potential investments by Apple and Nvidia in OpenAI, a competitor in the AI landscape, could have raised concerns about increased competition for META in the AI sector.
• The suspension of X (formerly Twitter) in Brazil, owned by Elon Musk, due to a feud with a Brazilian judge over free speech and misinformation, might have created uncertainty in the tech industry, impacting META's stock negatively.
• Despite being among Goldman Sachs' Best Hedge Fund Stock Picks, the overall market sentiment and external factors seem to have influenced META's bearish movement today.

24.06.2024 - META Stock was down 5.5%

• META's stock price likely dropped due to the negative publicity surrounding the removal of 63,000 accounts associated with sextortion scams, particularly those linked to the "Yahoo Boys" group in Nigeria.
• The market may have reacted negatively to concerns about user trust and safety on META's platforms, leading to a loss in investor confidence.
• The company's efforts to enhance automated detection systems and combat scams, while commendable, may have highlighted ongoing challenges in maintaining a secure online environment for users, impacting the stock performance negatively.

24.06.2024 - META Stock was down 5.0%

• META experienced a strong bearish movement today, possibly influenced by negative sentiments surrounding the company.
• Mark Zuckerberg's criticism of Apple's restrictive policies may have raised concerns among investors about potential conflicts affecting META's services and revenue.
• The removal of 63,000 accounts associated with Internet fraud and sextortion by META could have sparked regulatory concerns and negative sentiment among investors, leading to the bearish market movement.
• Overall, the combination of regulatory challenges, conflicts with tech giants like Apple, and negative publicity related to fraudulent activities may have contributed to META's bearish performance today.

25.06.2024 - META Stock was down 5.2%

• The bearish movement in META's stock today could be attributed to the removal of over 63,000 Nigerian Facebook accounts involved in internet fraud schemes. This could have raised concerns about the platform's security and trustworthiness among investors.
• Despite the positive development of unveiling Llama 3.1, a new AI model to compete with industry giants like OpenAI, the market might have been more influenced by the news of fraudulent activities on the platform.
• Speculation around Mark Zuckerberg's tan lines and its connection to a rumored AR device might have added some uncertainty and distraction, contributing to the bearish sentiment surrounding META's stock.
• Overall, the combination of negative news related to fraudulent activities and distracting rumors about new products could have overshadowed the positive advancements in AI technology, leading to the bearish movement in META's stock today.

05.07.2024 - META Stock was up 5.0%

• META experienced a strong bullish movement today despite a widespread market sell-off.
• The sell-off in technology stocks, including Nvidia, Apple, and other tech giants, was influenced by concerns about a U.S. recession and underwhelming earnings.
• Nvidia's stock dropped over 14% in pre-market trading, contributing to the overall negative sentiment in the tech sector.
• The global market turbulence resulted in a significant decline in chip stocks-linked ETFs, intensifying the downward pressure on technology shares.

07.07.2024 - META Stock was up 5.1%

• META's bullish movement today can be attributed to its strategic positioning in the metaverse market and the positive sentiment surrounding tech stocks.
• The popularity of META's Ray-Bans as a recovery gadget post-surgery could have highlighted the company's innovative products and potential for diversification beyond social media.
• The increasing demand for data center stocks due to AI growth, in which META is involved, could have also positively influenced investor confidence in the company's future prospects.
• Despite facing regulatory challenges in the UK regarding AI content crackdown, META's overall focus on metaverse development and potential market growth could have overshadowed these concerns, driving the stock price higher.

06.07.2024 - META Stock was up 5.1%

• META experienced a strong bullish movement today.
• The announcement of new monetization options for creators in Kenya, including In-Stream Ads on Facebook and Facebook Ads on Reels, likely contributed to the positive market sentiment.
• The antitrust ruling against Google, which highlighted concerns about monopolistic practices in the tech industry, may have indirectly benefited META by diverting attention away from its own regulatory challenges.
• Overall, the market responded positively to META's strategic initiatives and the shifting landscape of competition in the tech industry, leading to the bullish movement in the stock price.

06.07.2024 - META Stock was up 5.2%

• The bullish movement in Meta Platforms' stock can be attributed to the overall positive sentiment in the market, driven by several key factors:
• Deep-pocketed investors adopting a bullish approach towards Meta Platforms, as indicated by significant options activity.
• ARK Invest, led by Cathie Wood, making substantial purchases during a market downturn, including strengthening its positions in Meta Platforms, among other key stocks.
• Meta CEO Mark Zuckerberg's strategic aim to reduce the company's reliance on Apple, potentially signaling positive developments or strategic shifts within the company.
• The unexpected 35% stock plunge in Nvidia due to a chip delay impacting major cloud service providers like Microsoft, Google, and Meta, might have indirectly benefited Meta Platforms as investors sought alternative tech stocks with positive growth prospects.
• The overall tech sector's resilience and notable gains, particularly in companies like Nvidia, could have contributed to the positive momentum in Meta Platforms' stock, reflecting a broader trend of optimism in the tech industry.

02.07.2024 - META Stock was down 5.1%

• The overall market sentiment was bearish due to concerns about macroeconomic factors and a sell-off in global markets, leading to a tumble in Wall Street indices.
• META's stock might have been impacted by the news of considering suspending WhatsApp operations in Nigeria over a data fine, which could potentially affect its revenue and user base.
• Despite Meta unveiling the largest open AI model in history, boosting investor confidence in AI technology, the negative news about potential suspensions in Nigeria overshadowed the positive development.
• The uncertainty surrounding META's future in Nigeria and the regulatory challenges it faces in the region could have contributed to the bearish movement in its stock price today.

06.07.2024 - META Stock was up 5.2%

• META's significant growth today is linked to the market's recovery, particularly within the tech industry, after recent volatility.
• Favorable views on META's potential for growth, noted in discussions about its status as a solid growth stock, likely influenced the stock's upward movement.
• Major tech firms, including META, are enhancing their investments in data centers to bolster the AI field. This trend promises a bright future for META, fostering investor trust and interest in the company's stock.
• The tech-centric Nasdaq 100 and S&P 500 both surged, with particular mentions of META's standout performance among tech stocks, further driving META's strong momentum today.

06.07.2024 - META Stock was up 5.5%

• META experienced a strong bullish movement today, possibly driven by the following factors:
• The announcement of new monetization options for creators in Kenya, such as In-Stream Ads on Facebook and Facebook Ads on Reels, indicating potential revenue growth opportunities for the company.
• Positive sentiment in the tech sector, led by Nvidia's notable gains, which may have spilled over to META as part of the broader market optimism.
• Despite a focus on regulatory scrutiny towards Big Tech companies like Google and Meta, this attention could have reassured investors about the company's competitive position and future prospects.
• Wall Street analysts' positive outlook on Meta Platforms as a good investment could have also contributed to the bullish movement, reflecting confidence in the company's long-term growth potential.

06.07.2024 - META Stock was up 5.6%

• The bullish movement in META's stock price is likely due to the overall market rebound, especially with tech stocks like Meta performing well during the recovery.
• There's a notable increase in options activity, indicating that wealthy investors are showing a positive outlook on Meta Platforms, potentially adding to the stock's upward trend.
• Recent purchases of Meta stock by prominent investor Cathie Wood during the market downturn, alongside other tech investments, could have bolstered investor confidence in the company.
• Major tech companies, including Meta Platforms, are ramping up investments in data centers to support the AI sector, which could be another factor driving investor optimism and pushing up the stock price.