META spent three months trading in a range around $575 in late-2024, which is where investors should expect the stock to find support. Shares of META remain in a long-term bull market trend with a price target of $700.

Shares of Facebook and Instagram parent Meta Platforms traded near their lows for the day after the company told employees it plans to cut 5% of its workers in performance-based job cuts in the U.S. next month.

Shares of Meta Platforms ( META 4.33%) rose today as the social media giant benefited from a cooler-than-expected inflation report, the company's announcement yesterday that it would lay off 5% of its staff,