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Why Did Meta Stock Go Up This Week?

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Key Takeaways

  • Meta saw its shares drop in price from $325+ to below $90 last year.
  • The company has started 2023 strong, up 10.05% over the last 5 days.
  • Those investors who are interested will be betting on the future of the metaverse and the company’s ability to fight off challengers

Facebook owner Meta had a turbulent 2022, seeing its stock value decline from more than $325 to less than $90 in November. The company also laid off more than 11,000 employees in November as it looked to cut costs.

Since the start of the new year, Meta has seen gains in its stock price, leaving many investors to wonder why.

Background

2022 was a difficult year for stocks and the tech industry in particular. The S&P 500 saw a nearly 20% drop with the NASDAQ, a tech-focused stock index down more than 33%.

The market went downward for a multitude of reasons. High inflation was one major source of stock market trouble. The Federal Reserve’s response of boosting interest rates, with many expecting rate increases to continue through 2023 worsened the slump.

Worldwide uncertainty about a potential future recession, as well as the war in Ukraine, have also made investors…

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Disclaimer: This report is auto-generated from the various news services (RSS Feeds). pressenachrichten.com holds no responsibility for its content.

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