Meta Platforms Inc. (META) experienced a 3.55% drop in shares on Monday, with the stock slipping to $278.47. Unfortunately, this decline coincided with a challenging trading session for the entire stock market. The NASDAQ Composite Index (COMP) fell 1.16% to 13,335.78, while the Dow Jones Industrial Average (DJIA) fell 0.04% to 33,714.71.
After two consecutive days of positive gains, the sudden fall of Meta Platforms Inc. came as a surprise to investors. The stock closed $11.20 short of its 52-week high of $289.67, which was achieved on June 23rd.
Unfortunately for the company, its competitors fared better on Monday. Apple Inc. (AAPL) only fell 0.76% to $185.27, Microsoft Corp. (MSFT) fell 1.92% to $328.60, and Alphabet Inc. Cl C GOOG (GOOG) experienced a larger 3.19% fall to $119.09.
In terms of trading volume, it was higher than usual with 24.1 million shares traded, surpassing its 50-day average volume of 23.5 million.
Despite this recent downturn, investors remain optimistic about Meta Platforms Inc.’s future success in the market.
