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The Economic Times

Business

Kumar Gaurav

Meta shares hit 5% intraday high after $16.68 billion settlement over alleged harm to young users

Meta United States Facebook Instagram California

Shares of Meta Platforms rose 4.96% to an intraday high of $598.36 apiece on the Nasdaq on Wednesday, August 26, after the company agreed to pay a maximum $16.68 billion to settle claims over alleged harm to young users of Facebook and Instagram.

The stock, however, pared its gains shortly after. At 10:15 a.m. ET, Meta shares were trading at $568.245, down 0.32% on the Nasdaq.

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