The shares of Meta Platforms (FB), formerly known as Facebook (NASDAQ:FB), have been slumping in price amid antitrust allegations and private lawsuits over the past few months. So, given optimistic growth prospects and favorable analyst estimates, is FB a buy now on its stock’s price dip? Read more to find out.The stock of Meta Platforms, Inc. (FB), formerly known as Facebook, Inc., which is headquartered in Menlo Park, Calif., has been slumping due to multiple antitrust allegations and lawsuits against the company over the past six months. The stock has declined 4.1% in price over the past six months and 15.5% over the past three months.
However, on December 1, FB requested that a U.S. court dismiss an antitrust lawsuit filed by the U.S. Federal Trade Commission (FTC) because the lawsuit has “no plausible factual support.” Also, the company requested that the court not to allow the lawsuit to be refiled because the FTC failed to provide adequate evidence that FB acted “illegally” to protect a monopoly.
FB shares have gained 4% in price over the past five days to close yesterday’s trading session at $322.81.