Meta Platforms (NASDAQ: META), a leading tech giant known for its social media platforms Facebook and Instagram, is dealing with an issue resulting in growing scrutiny from U.S. lawmakers. According to a recent press release, the concern is that alleged illegal drug advertisements have been appearing on Meta’s platforms. As a result, a group of legislators are seeking an explanation from the company about ads that reportedly direct users to online marketplaces where various drugs and substances are available.
“Despite these challenges, META’s stock performance on the NASDAQ shows resilience,” stated the press release. “The company’s shares reached a high of $531.66 during the day, indicating strong investor confidence or a disconnect between the company’s financial performance and the regulatory pressures it faces. This high stock price suggests that, at least in the short-term, the market may be overlooking the potential risks associated with the lawmakers’ concerns.”
To view the full press release, visit https://ibn.fm/savox
About Meta Platforms
Meta builds technologies that help people connect, find communities and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps such as Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences including augmented and virtual reality to help build the next evolution in social technology. For more information about the company, please visit www.Investor.FB.com.
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The post TechMediaBreaks – Meta Platforms Inc. (NASDAQ: META) Stock ‘Shows Resilience’ as Legislators Look for Answers Regarding Alleged Illegal Drug Ads appeared first on Invezz
