Meta's Stock Has Rocketed Over 30% in the Past Month. Here's How the Embattled "Magnificent Seven" Company Completely Flipped the Script
The release of Meta Muse made investors bullish on the company.
Overview
For much of the year, Meta Platforms (NASDAQ: META) struggled to gain traction. As investors began to question hyperscalers' massive capital expenditures on artificial intelligence infrastructure and the returns they would reap, Meta's stock sold off because the company failed to show evidence of strong returns from the high capex.
Then the company announced a landmark settlement with most U.S. states in a lawsuit alleging the platform's features addicted teens and children, leading to mental health issues. While the $18 billion fine over the next five years is not considered a big deal, Meta agreed to make significant changes to its platforms for people under 18 to curb their usage.
Details
While these factors pressured the stock earlier this year, Meta has rocketed nearly 32% higher over the past month (as of Sept. 27). Here's how Meta flipped the script.
Source
Originally published at www.fool.com.