• Facebook parent Meta erases $42 billion in market value after Snap warning rips social media stocks

    1 month ago - By Business Insider

    Meta CEO, Mark Zuckerberg. Drew Angerer/Getty Images Facebook parent Meta Platforms fell 8% on Tuesday, erasing $42 billion in market value. The decline came after Snap warned about its second-quarter results due to a tough macro environment. Investors are extrapolating Snap's weakness onto other social media and digital advertising stocks. Facebook parent Meta Platforms plunged 8% on Tuesday, erasing $42 billion in market value after its peer Snap warned about a tough macro environment in the second-quarter. Snap's second-quarter earnings warning rippled through a number of social media...
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  • US stocks slip as social media leads tech sell-off with Fed chief Powell due to speak

    1 month ago - By Business Insider

    Federal Reserve Board Chairman Jerome. Alex Wong/Getty Images
    US stocks dropped Tuesday, as social platform Snap plunged after warning on the economy.
    Snap's CEO said the company faces rising inflation and interest rates, supply-chain snags, and war impacts.
    Later on Tuesday, Fed Chair Powell will speak at the Reservation Economic Summit.
    US stocks dropped Tuesday as a profit warning from Snap sent reverberations through the broader market and fueled concerns about the economy. The Nasdaq led the market lower, with Snap's warning dragging down other social-media and tech stocks. "Like many...
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  • A California bill could allow parents to sue social-media companies for up to $25,000 if their children become addicted to the platforms

    1 month ago - By Business Insider

    The California State Capitol building in Sacramento. Getty Images
    A California bill that could allow parents to sue social-media firms has passed the state Assembly.
    The bill's author said it aims to stop children from becoming addicted to such platforms, per AP.
    If it becomes law, business groups say platforms may not offer services to children in the state.
    A California bill that aims to hold social-media companies responsible for children who become addicted to their platforms, passed the state Assembly on Monday. AP reported the news. The bill , co-sponsored and authored by state...
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