Shares of Meta Platforms Inc. (NASDAQ: META) experienced a minor setback on Tuesday, as the stock slumped by 0.46% to $301.27. However, this decline occurred within an overall positive trading session for the stock market.
The NASDAQ Composite Index (NASDAQ: COMP) saw a 0.48% increase, reaching 12,851.24 points, while the Dow Jones Industrial Average (DJIA) rose by 0.38% to 33,052.87 points.
Unfortunately, Meta Platforms Inc.’s stock ended its two-day winning streak and closed at $29.27 below its 52-week high of $330.54, which was achieved on October 12th.
Underperformance Compared to Competitors
In comparison to its competitors, Meta Platforms Inc. underperformed on Tuesday. Apple Inc. (NASDAQ: AAPL) experienced a 0.28% increase, with a stock price of $170.77. Similarly, Microsoft Corp. (NASDAQ: MSFT) saw a 0.24% rise, reaching $338.11. Meanwhile, Alphabet Inc. Class C (NASDAQ: GOOG) faced a 0.36% decline, closing at $125.30.
Despite the decline in stock price, the trading volume for Meta Platforms Inc. remained at 18.0 million shares, which is 3.2 million shares lower than its 50-day average volume of 21.2 million shares.