Appaloosa Management LP, managed by David Tepper, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 135,000 shares.
Recent Updates on Meta Platforms, Inc. stock
In recent developments, Meta Platforms, Inc. is undergoing significant organizational changes, including company-wide layoffs affecting 5% of its global workforce, while expediting the hiring of machine learning engineers. The company has also merged its Messenger and Facebook teams and is considering relocating its incorporation from Delaware to potentially Texas. Meta is heavily investing in virtual and augmented reality, with plans to reach $100 billion in investment this year. The company sold over 1 million Ray-Ban smart glasses in 2024, positioning itself as a leader in the AI glasses market. Additionally, Argus has raised Meta’s price target to $775 from $686, reflecting positive market sentiment amidst these strategic shifts.
More about Meta Platforms, Inc.
YTD Price Performance: 20.12%
Average Trading Volume: 13,690,284
Current Market Cap: $1817.8B