Shares of Meta Platforms Inc. (NASDAQ: META) experienced a significant boost on Tuesday, with the stock rallying by 1.42% to reach $298.29. This surge came amidst a highly positive trading session for the overall stock market, with the NASDAQ Composite Index (NASDAQ: COMP) climbing 0.55% to 13,760.70, and the Dow Jones Industrial Average (DJIA) rising by 0.93% to 34,261.42.
Impressive Second Consecutive Day of Gains
This recent surge represents the stock’s second consecutive day of gains, indicating a strong upward trend for Meta Platforms Inc. Moreover, the company achieved a new 52-week high, surpassing its previous peak of $298.13, which was recorded on July 10th.
In addition, Meta Platforms Inc. outperformed some of its key competitors on Tuesday. While Apple Inc. (NASDAQ: AAPL) experienced a slight decline of 0.28% to $188.08, Microsoft Corp. (NASDAQ: MSFT) saw a modest increase of 0.19% to $332.47, and Alphabet Inc. Cl C (NASDAQ: GOOG) rose by 0.72% to $117.71.
Robust Trading Volume
The trading volume of Meta Platforms Inc. was also remarkable, with 27.3 million shares exchanged during the session, surpassing its 50-day average volume of 24.6 million shares.