Meta Platforms Inc. Nears 52-Week High Amid Mixed Market
Meta Platforms Inc. closed just $17.06 short of its 52-week high of $485.96 on Monday, a milestone previously achieved on February 2nd. Despite a mixed trading session for the stock market, Meta Platforms managed to outperform some of its competitors.
As the broader market saw the Dow Jones Industrial Average rise by 0.33% to 38,797.38, and the NASDAQ Composite Index fall by 0.30% to 15,942.55, Meta Platforms inched up by 0.17% to reach $468.90.
With Apple Inc. losing 0.90% and settling at $187.15, Microsoft Corp. sliding 1.26% to $415.26, and Alphabet Inc. Cl C dipping 0.99% to $148.73, Meta Platforms proved to be the standout performer amongst its competitors.
The trading volume for Meta Platforms was higher than its 50-day average, with 19.3 million shares changing hands, compared to the average of 19.2 million shares.
Analyst comment
Neutral news.
As an analyst, Meta Platforms Inc. is likely to continue its upward trend and possibly break its 52-week high in the near future due to its outperformance in a mixed trading session and higher trading volume.
