Meta Platforms Inc. (META)

Index:

Nasdaq 100

$ 504.02
   
  • Change Today:
    $-0.21
  • 52 Week High: $527.34
  • 52 Week Low: $283.25
  • Currency: US Dollars
  • Shares Issued: 2,211.00m
  • Volume: 773,325
  • Market Cap: $1,114,377m

US regulator may ask Facebook to stop integration of subsidiaries

By Caoimhe Toman

Date: Friday 13 Dec 2019

LONDON (ShareCast) - (Sharecast News) - The US Federal Trade Commission is considering asking a court to stop Facebook from moving ahead with plans to integrate its WhatsApp, Instagram and Messenger subsidiaries, The Wall Street Journal reported on Thursday.
Facebook shares dropped 2.7% shortly after the start of trading on Friday over fears the potential regulatory move could be a first step toward forcing the company to sell its WhatsApp and Instagram apps.

The FTC's concerns followed Facebook CEO Mark Zuckerberg's announcement in March of his plans to allow users of its units Messenger, WhatsApp and the direct messaging system within Instagram to communicate with each other, and for end-to-end encryption to be extended across the three services.

Zuckerberg argued that this would enhance the number of private channels available for communicating through social media.

The Wall Street Journal said the FTC could file for an injunction to halt the integration as early as January.

Facebook and the FTC declined to comment, Reuters reported on Friday.

Zuckerberg's integration strategy reflected the importance of Instagram and WhatsApp for Zuckerberg's strategy to attract new users, with ads on Instagram driving a lot of Facebook's revenue growth.

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META Market Data

Currency US Dollars
Share Price $ 504.02
Change Today $ -0.21
% Change -0.04 %
52 Week High $527.34
52 Week Low $283.25
Volume 773,325
Shares Issued 2,211.00m
Market Cap $1,114,377m

What The Brokers Say

Strong Buy 25
Buy 24
Neutral 8
Sell 2
Strong Sell 0
Total 59
buy
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Trades for 01-Jul-2024

Time Volume / Share Price
09:34 100 @ $504.02
09:34 160 @ $504.02
09:34 200 @ $503.99
09:34 3,645 @ $503.93
09:34 100 @ $503.84

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