02/03/2024

Meta Surges with Record $196 Billion Gain in Stock Market Value

This comes just days ahead of Facebook's 20th birthday

On Friday, Meta Platforms added $196 billion in stock market value, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results.

Meta's's stock surged 20.3 percent for the session, also recording its biggest one-day percentage increase in a year and its third biggest since its 2012 Wall Street debut. Its stock market value now stands at more than $1.22 trillion.

Days ahead of Facebook's 20^th anniversary, Meta late on Thursday authorized an additional $50 billion in share repurchases and said its quarterly dividend would be 50 cents per share.

Please select this link to read the complete article from Reuters.