As GOOG Stock Falls on Legal Woes Should You Jump to Buy the Dip?

March 26 wasn’t a pleasant day for social media stocks, which fell sharply after a Los Angeles jury found that Meta Platforms (META) and YouTube were negligent in protecting children on their platforms and deliberately structured their platforms to make them addictive. The ruling comes at a time when broader markets are already under pressure amid uncertainty over the Iran war.

Specifically, META stock fell nearly 8% on March 26 and had its worst day in months, while YouTube parent company Alphabet (GOOG) fell just over 3%. Reddit (RDDT) and Snap (SNAP) also plunged, with the latter witnessing a double-digit dip after the European Union opened a child safety probe against the company.