Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Meta Platforms has announced a significant shift in its advertising strategy by halting political ads in the European Union starting October, in response to the EU’s new Transparency and Targeting of Political Advertising law. This move highlights the ongoing tension between Big Tech and EU regulations, as the law imposes stringent requirements on political ads, including clear labeling and restrictions on personal data usage. Meanwhile, Meta is making strides in AI technology, unveiling a prototype wristband that allows users to control devices through small hand movements or even the intention to move, using electromyography and AI. This innovation is part of Meta’s broader push into AI, as the company hires top talent from competitors like Google DeepMind to strengthen its AI division. Analysts maintain a strong buy consensus on Meta stock, with an average price target suggesting a potential upside.