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Benzinga
Benzinga
Business
Melanie Schaffer

Workforce Down, Stock Price Up: Here's What's Going On With Meta Platforms

Meta

Meta Platforms Inc (NASDAQ:META) gapped up about 4% higher on Wednesday and continued to spike intraday, trading up over 6% in the afternoon.

The move higher, caused by news that Meta planned to reduce its workforce by about 13%, allowed the stock to regain the eight-day exponential moving average, which is a good sign for the bulls.

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