Meta Stock Holds Steady as Tennessee Kicks Off Instagram Addictive Design Trial
Complete. Here is the key summaryMeta Platforms faces a trial in Tennessee alleging Instagram was designed to be addictive for teenagers. Despite initial share dips, Meta stock recovered and held steady during trading. This case is part of several upcoming trials challenging Meta's platform design practices.
Global tech giant Meta Platforms (META) is facing trial in Tennessee starting over claims that its social media platform, Instagram, was designed to keep teenagers hooked. The case is one of several trials set in the coming weeks testing claims that Meta built its social platforms to be intentionally addictive. Meanwhile, Meta shares slipped about 1.06% after the trial began on Monday but eventually erased those losses in later trading hours.
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Tennessee Accuses Meta of Hiding Instagram Risks
After edging lower at the market open, Meta shares recovered some ground, trading about 0.93% higher at the time of writing. However, the stock is still down about 3.7% over the past three months, according to TipRanks data.