Meta Platforms among top gainers as BofA adds to best-ideas list
Justin Sullivan


Meta Platforms (NASDAQ:META) is among the top gainers in a Communications stock space that is broadly higher as a sector Wednesday, as BofA Securities adds the Internet bellwether to its US 1 list.
Meta stock (META) is 6% higher after midday Wednesday on moderate volume. Looking sector-wide, the Communication Services Select Sector SPDR Fund (NYSEARCA:XLC) is 2.9% higher - which, if it holds up, will be that fund's best day since July 27.

And Meta is headed for its best gain since that same day, when it rose 7.7%.
BofA's US 1 list represents its very best investment ideas from the universe of Buy-rated, U.S.-listed stocks in its coverage.
To make room, it's removing Alphabet (NASDAQ:GOOGL) from the US 1 list. But it's keeping a Buy rating on that stock, and Alphabet shares are also higher on the day: (NASDAQ:GOOG) +2.8%; (GOOGL) +2.7%.