News
John Smaug
- October 19, 2023
Shares of Meta Platforms Inc. (META) slipped 1.31% to $312.81 on Thursday, experiencing a challenging trading session alongside the broader stock market. The NASDAQ Composite Index (COMP) fell 0.96% to 13,186.18, while the Dow Jones Industrial Average (DJIA) dropped 0.75% to 33,414.17.
Second Consecutive Day of Losses
This marked the stock's second consecutive day of losses, reflecting a downturn in investor sentiment towards Meta Platforms Inc.
Approaching 52-Week High
Although the stock closed at $312.81, it fell $17.73 short of its 52-week high of $330.54, which the company reached on October 12th.
Underperformance Compared to Competitors
On Thursday, Meta Platforms Inc. underperformed in comparison to some of its competitors. Apple Inc. (AAPL) saw a decrease of 0.22% to $175.46, Microsoft Corp. (MSFT) rose by 0.37% to $331.32, and Alphabet Inc. Cl C (GOOG) experienced a decline of 0.22% to $138.98.
Trading Volume
Despite the decline in stock value, trading volume remained slightly below average. With a volume of 17.8 million shares traded, it fell 1.6 million shares below the 50-day average volume of 19.4 million.
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