Meta Platforms Inc. (META, Financial) experienced a significant stock price increase, rising as much as 4.5% to test the resistance level near $603, last seen in October of the previous year. Since November 2022, Meta has been on an upward trend relative to the S&P 500 Index. However, in 2023, the stock has been consolidating when compared to a benchmark of seven major technology companies.
At one point, Meta's stock price increased by 3.3% to $603.41, potentially boosting its market capitalization by $49 billion. Despite this recent surge, as of the previous day's close, the stock had declined by 0.2% year-to-date. Over the past 12 months, however, Meta has seen a cumulative increase of 16%.
