Why Meta Platforms Stock Was Climbing Today
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Shares of Meta Platforms rose 4.5% following a cooler-than-expected inflation report, the announcement of a 5% workforce reduction, and the potential TikTok ban, which could benefit Facebook and Instagram. The core Consumer Price Index (CPI) increased by 3.2% in December, slightly below forecasts. Investors are optimistic that layoffs will boost profits, and a TikTok ban could drive users to Meta's platforms. CEO Zuckerberg hinted at an intense 2025, suggesting new products may be on the horizon, which could further support stock growth.
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