The Meta Meltdown: A Brewing Storm for Options Traders As the opening statements unfold in Oakland's courtrooms, where 29 state attorneys general are accusing Meta of designing Facebook and Instagram to hook young users, the stock's already shaky ground is becoming increasingly treacherous terrain for investors.
The once mighty Meta Platforms has seen its shares plummet over 30% from last year's highs – a decline that's not hard to understand given the litany of lawsuits against the company.
The company faces a laundry list of bad news, including over 3,000 personal injury suits, 1,300 school district claims, a $1 billion New Mexico judgment, and a $6 million bellwether loss in Los Angeles.