Meta Platforms Faces A Looming EU Antitrust Fine, Braces For Market Turbulence Yet Surprises With A Steady 28% Year-To-Date Gain

Quick Summary:

Meta Platforms is set to receive its first EU antitrust fine for allegedly abusing its dominant market position.

The stock still has the potential to increase its 28% year-to-date gains achieved so far.Meta Platforms Inc.(NASDAQ: META) is about to face its first EU antitrust fine.

The penalty is due to claims that Meta unfairly combined its Marketplace with Facebook, using its dominant position to push out competitors in the classified ads market.

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Article Details

Author / Journalist: Zaheer Anwari

Category: Technology

Markets: United States

Topics: Contributors Trading Ideas Tech Markets Benzinga Eurozone META Expert Ideas

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 13:19:27 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 381 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21784542

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