On September 28, Meta Platforms, Inc. fell 3.13% in regular trading, trading at $723.4 per share, with turnover of $3.65 billion. The pullback follows a roughly 13% rally in the prior week, driven by multiple converging headwinds.

On the legal front, Meta lost a trial in New Mexico related to the Cambridge Analytica data scandal. A jury found the company engaged in deceptive practices regarding its speech and data privacy policies, violating state law. The state Attorney General announced plans to seek civil penalties of up to $219 billion, potentially the costliest legal consequence of the scandal to date. The final amount will be determined by the Santa Fe First Judicial District Court.

Meanwhile, CEO Mark Zuckerberg announced the launch of the Meta Enterprise Platform, calling it the next major pillar of the company's business. The platform will be led by former MongoDB CEO CJ Desai, whose departure sent MongoDB shares down over 13%. The initial focus will be on integrating a complete technology stack. Additionally, Meta's AI product Muse was reported to have security vulnerabilities that could allow attackers to access users' emails and files in dedicated cloud storage, adding further pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)