Activist investor ValueAct has $1 billion stake in Meta, sources say
Publishing timestamp: 2024-11-12 12:43:54
Summary
ValueAct has a $1 billion stake in Meta, with CEO Mason Morfit supportive of Meta's AI push. Meta is the largest company ever targeted by a major activist. ValueAct has a history of investing in technology companies and is considered more collaborative than other activist funds. Meta shares have outperformed the S&P 500 and peer companies.
Sentiment: NEUTRAL
Tickers: META,
Keywords: breaking news: technology, mergers and acquisitions, breaking news: business, technology, social media, breaking news, activism, meta platforms inc, business, business news,
Source: https://www.cnbc.com/2024/11/12/activist-valueact-has-1-billion-stake-in-meta-sources-say.html