Reasons for Meta Platforms Stock Explosion.

  Reasons for Meta Platforms Stock Explosion. Facebook's response to the newly released "Wall Street Journal" report.

• What happened.

As it is known, the company formerly known as Facebook has changed to Meta Platforms FB (NASDAQ) $338,62 -2,51 (-%0,74) Shares of the social network powerhouse rose 3% on Friday afternoon after Facebook published a blog post disputing The Wall Street Journal's latest "Facebook Files" report.

• So what

Well what the Magazine said about Facebook this time and the Meta Platforms reaction. In fact, when asked if Facebook is bad, 360 million users said yes. From there, the Journal cites "use of Facebook harms sleep, work, relationships or parenting" and the company's internal documentation on "problematic use" of the app. It's said to be addictive, and in some cases, he said, this research has even shown that "parents are more focused on FB than looking after their kids."

Reasons for Meta Platforms Stock Explosion.

• Now what

Meta Platforms (formerly Facebook) immediately responded to this latest report with a rebuttal. "The Wall Street Journal ... is completely wrong," saying "problematic use does not equal addiction" he added. It even said that "since 2018, they have introduced about 10 products to better support people's well-being, including problematic use of apps." Indeed, the company says this is an issue Facebook has been working on for "over 10 years." While the decade of work doesn't seem to end the "problematic use" of Facebook, a metaverse is now being built.  

Source: The Motley Fool

 

You may also be interested in:

 

Netflix Gave a Positive Answer to The Question “Is it Still Being Watched”.