Meta Platforms, Inc. - Class A Common Stock (META)
589.44
-30.12 (-4.86%)
Meta Platforms Inc is a technology company that focuses on building and connecting social media platforms and virtual experiences
It is best known for its flagship products, which include Facebook, Instagram, and WhatsApp, providing users with a space to communicate, share content, and engage with diverse communities. The company is also heavily invested in the development of augmented reality and virtual reality technologies, aiming to create immersive environments and enhance social interaction in the metaverse. Through its various platforms and initiatives, Meta seeks to empower individuals and businesses while fostering new ways for people to connect and collaborate.
Shares of social network operator Meta Platforms (NASDAQMETA)
fell 5% in the afternoon session as markets remained anxious about the negative impact of tariffs, with concerns intensifying following new updates from the Trump administration. Treasury Secretary Scott Bessent noted on CNBC, "We're focused on the real economy.... I'm not concerned about a little bit of volatility over three weeks."
Adding to the concerns, President Trump announced on Truth Social that his administration was considering imposing a 200% tariff on all alcoholic beverages imported from European Union countries. This move was in response to the EU's 50% tariff on whisky. Trump added, "This will be great for the Wine and Champagne businesses in the U.S."
Jensen Huang will give a keynote speech at Nvidia's GTC conference next week. A keynote from Huang at CES earlier this year took Nvidia stock to highs.
Meta Platforms Inc. (NASDAQMETA) will launch its new "Community Notes" system, replacing the third-party fact-checking program. Starting March 18, 2023, users will contribute context to posts on Facebook, Instagram, and Threads. With 200,000 early users and more joining via a waitlist, the system aims for a more balanced, less biased approach to content review.
Amazon.com Inc. Alphabet Inc.'s Google, Meta Platforms Inc. and Dow Inc. have joined a growing coalition of companies pledging support to triple global nuclear capacity by 2050, signaling a significant shift in how tech companies plan to power their energy-intensive operations.
Meta has blocked the promotion of a whistleblower's tell-all book that alleges sexual harassment and censorship efforts tied to China, sparking fresh scrutiny of the company's internal culture and legal tactics — even as its stock continues to climb.
Traditional nuclear power providers also registered gains on the news. Constellation Energy Corporation shares climbed nearly 5%, while Vistra’s stock jumped more than 10%.
Nuclear stocks like NuScale Power, Oklo, and Cameco got a boost from NVIDIA's forecast that AI compute needs would grow by 100X in the next generation of models
