Meta platforms have achieved an unprecedented milestone, recording the largest single-day gain in stock market value in Wall Street history. The parent company of Facebook added a staggering $196 billion following the announcement of its inaugural dividend and robust financial results.
During the session, Meta’s stock soared by 20.3%, marking its most significant one-day percentage increase in a year and the third-largest since its debut on Wall Street in 2012. The company’s current stock market value has surpassed $1.22 trillion.
In a move days before Facebook’s 20th anniversary, Meta authorised an additional $50 billion in share repurchases and declared a quarterly dividend of 50 cents per share. This dividend, although commonly associated with mature, slow-growth companies, positions Meta alongside tech giants like Apple, Microsoft, and Nvidia, all of which offer dividends.
![Meta Platforms Shatters Records with $196 Billion Surge in Market Value](http://newscentral.africa/wp-content/uploads/Meta-Platforms-Shatters-Records-with-196-Billion-Surge-in-Market-Value-1024x688.jpg)
The surge in Meta’s market capitalisation on Friday surpassed the previous record set by Amazon on February 4, 2022, when its market value surged by $190 billion following an outstanding quarterly report.
Interestingly, the historic gain comes a day after Meta suffered its largest single-day loss in U.S. stock market history, losing over $200 billion in value after issuing a disappointing forecast.
Meta’s dividend plan holds substantial benefits for CEO Mark Zuckerberg, who owns approximately 350 million Meta Class A and Class B shares, potentially earning him around $175 million every quarter.
Optimism surrounding the potential of artificial intelligence contributed to a 24% rally in the S&P 500 last year, with Meta, Nvidia, Microsoft, and Broadcom reaching record highs. With Friday’s remarkable gain, Meta has now surged by 35% in 2024, showcasing its resilience and ability to bounce back from market fluctuations.