From Nasdaq: 2024-09-17 04:41:02

Meta Platforms has banned Russian media outlets, including RT, from its apps due to foreign interference in U.S. elections. The DOJ accused RT of funneling $10 million to promote pro-Russian content. Russian media companies, like Tenet Media, are also accused of influencing the elections by hosting Trump supporters.

RT denies wrongdoing but failed to disprove allegations. They had a significant following on Meta’s platforms. Russian media outlets allegedly used social media for crowdfunding military operations in Ukraine. Tech companies, like Meta, Microsoft, and Alphabet, are set to testify before the Senate Intelligence Committee about combating foreign threats to elections.

Despite concerns and competition, Meta Platforms’ popularity is growing. Their total estimated visits worldwide increased by 28.9% year-to-date. Wall Street is optimistic about Meta stock, with a Strong Buy consensus rating and an average price target of $584.82, implying 9.7% upside potential. META shares have gained 51% year-to-date.



Read more at Nasdaq: Meta Bans RT and Other Russian Media from Apps After DOJ Accusations