Shares of Meta Platforms Inc. (META) took a hit on Friday, declining by 2.73% and settling at $294.26. This downturn came amidst a mixed trading session in the stock market. The Dow Jones Industrial Average (DJIA) saw a slight increase of 0.01%, closing at 35,227.69, while the NASDAQ Composite Index (COMP) experienced a 0.22% decline, ending the day at 14,032.81.
Second Consecutive Day of Losses
This marks the second consecutive day of losses for Meta Platforms Inc.
The company’s closing price of $294.26 fell $24.42 short of its 52-week high of $318.68, which was reached on July 19th.
Underperformance Compared to Competitors
On Friday, Meta Platforms Inc.’s stock underperformed in comparison to some of its competitors. Apple Inc. (AAPL) witnessed a 0.62% decline, with shares closing at $191.94. Microsoft Corp. (MSFT) also saw a drop of 0.89%, settling at $343.77. In contrast, Alphabet Inc. Cl C (GOOG) experienced a 0.65% increase, closing at $120.31.
Higher-than-Average Trading Volume
The trading volume for Meta Platforms Inc. on Friday was 41.8 million shares, surpassing its 50-day average volume of 23.6 million shares.
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