Key Points

- Meta Platforms stock jumped 65% in 2024, hitting the trillion-dollar mark once again
- Despite market trends, Meta stock rallied on Friday, gaining 3.1%
- Meta cuts diversity, equity, and inclusion programs ahead of Trump's return
- Mark Zuckerberg claims Biden administration pressured Meta to remove vaccine content
- Supreme Court's potential TikTok ban spurs market reaction, boosting Meta stock

Shares of Meta Platforms soared last year, achieving a 65% increase as the stock once again reached the trillion-dollar mark. Even in the face of a gloomy market mood on Friday, Meta Platforms' stock defied the trend and surged by as much as 3.1% during trading hours.

Meta Platforms, also known as Facebook parent Meta, made waves as it announced the rollback of its diversity, equity, and inclusion programs. This move marks another cultural shift for the tech giant ahead of President-elect Donald Trump's anticipated return to the White House.

In a revealing statement, Mark Zuckerberg disclosed that the Biden administration exerted significant pressure on Meta to take down content related to Covid vaccine side effects. Despite Zuckerberg's personal belief in the positive aspects of Covid vaccines, the administration insisted on removing factual posts.

The Supreme Court stirred up the stock market by hinting at a potential ban on TikTok, a move that had a ripple effect on various companies. This decision boosted shares of companies behind rival social media platforms, including Meta, while negatively impacting a key TikTok partner.

As Meta Platforms made significant policy changes, including scrapping fact-checking efforts, concerns have arisen regarding the potential rise of misinformation on its platforms. The elimination of diversity programs has also sparked criticism within the company, with employees expressing discontent over the decision.

Meanwhile, as preparations are underway for Donald Trump's upcoming inauguration, his inauguration fund has attracted record-breaking donations totaling $170 million. Notably, major tech players such as Google, Microsoft, and Meta have contributed to this substantial fund, exceeding previous inauguration fundraising efforts.

In the world of cryptocurrency, Bitcoin ETF outflows have accelerated as the digital asset's value fluctuates. Despite rallying alongside Bitcoin's surge in December, crypto ETFs are now facing sell-offs as the market experiences shifts in value.

In light of these developments, Meta Platforms emerges as a key player in the evolving landscape of tech and social media, navigating cultural shifts, political influences, and market dynamics. The company's stock performance, policy changes, and interaction with regulatory bodies highlight its impact on various sectors and its continued relevance in the digital age.

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