Meta Platforms (NASDAQ:META) has announced that it will be removing the news section from Facebook in the UK, France, and Germany pretty soon, possibly by the start of December. It said that this change is happening to focus more on the things that people use and enjoy the most on its platform. Interestingly, the company pointed out that the news isn’t a big part of most people’s Facebook experience anyway, making up less than 3% of what users usually see on their feeds.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
This doesn’t mean you won’t see any news at all on Facebook. You can still find news articles there, and news publishers can keep using their Facebook accounts to reach their audience and make money through other features like Reels and ads. This change is part of a larger trend where governments worldwide are pushing big tech companies like Meta and Google (NASDAQ:GOOG) (NASDAQ:GOOGL) to pay news publishers for sharing their content.
Turning to Wall Street, analysts have favorable outlooks for both META and GOOG stocks, as both are rated as Strong Buys. Nevertheless, analysts appear to expect more from META since its price target implies 25.34% upside potential compared to GOOG’s 4.11%.
