Meta Platforms gets tripped following Atlantic Equities downgrade
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Meta Platforms (NASDAQ:META) shares fell more than 2%, Tuesday, after Atlantic Equities analyst James Cordwell cut his rating on Facebook's parent company to neutral from overweight.
Cordwell said he downgraded Meta (META) due to a number of factors including rising competition for online advertising dollars.

"We now believe Meta's growth outlook is increasingly challenged given strengthening macro [environment] headwinds," Cordwell said, in a research note. Cordwell said that cost reductions will help somewhat with the "softer topline" but that overall, the company is facing pressures on its earnings growth over the next two years.
On Monday, analyst Brian White, of Monness, Crespi, Hardt, said that Meta (META) is expected to give more details about its metaverse strategy and technologies at the company's upcoming Connect conference.