Meta, Google's $6 Million Loss In Social Media Trial Has Far-Reaching Implications, Says Gary Black As Mag 7 Stocks Underperform SPX

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Meta Platforms Inc. (NASDAQ:META) and Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) are under scrutiny following a California jury’s decision holding them accountable for a young woman’s mental health issues. This verdict has significant implications for the companies and the broader industry, according to The Future Fund LLC’s Gary Black.

META, GOOGL Fall Behind Due To Recent Underperformance

According to Gary Black, all Mag 7 stocks, including Meta and Alphabet, have lagged behind the S&P 500 this year.

Year-to-date all Mag 7 stocks have underperformed SPX. $META and $GOOGL which had been holding up well all year, have underperformed in recent weeks as investors struggle with a California jury verdict finding the companies negligent for a 20-year-old woman’s mental health… pic.twitter.com/qorkcBPXo1

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Meta, Google’s $6 Million Loss In Social Media Trial Has Far-Reaching Implications, Says Gary Black As Mag 7 Stocks Underperform SPX

META, GOOGL Fall Behind Due To Recent Underperformance