Meta Platforms, Inc. (NASDAQ: META) ended Tuesday’s regular session near $665 per share, extending a late-year rebound but still sitting well below its summer peak. In early after-hours trading, the stock was little changed around the close, reflecting a market that’s digesting a fresh round of analyst commentary and a handful of Meta-related headlines—but also one that’s entering a holiday-shortened, lower-liquidity trading window. [1]
Below is what mattered after the bell on December 23, 2025, and what investors will want on their radar before Wednesday’s open (December 24, 2025).
META stock recap: where it closed, how it traded, and why volume matters this week
Meta shares traded in a relatively tight band on Tuesday, with the day’s range sitting roughly between the high-$650s and mid-$660s. On StockAnalysis’ daily tape, META’s Dec. 23 session shows an open near $660, an intraday high near $666, and a low near $658, with volume around 5.6 million shares—notably light compared with typical activity. [2]
That volume detail is important heading into Wednesday, because thin holiday liquidity can make moves look “bigger” than they are—especially in mega-cap stocks that normally trade tens of millions of shares on an active day. Finviz shows META’s volume around 5.58 million against an average closer to ~18 million, underscoring how quiet this tape already is. [3]
The biggest “today” driver for META: Baird trims its target—but says buyers should be opportunistic
The most market-relevant META item dated today (Dec. 23) was an analyst update from Baird. In a note reported Tuesday, analyst Colin Sebastiantrimmed his Meta price target slightly (from $820 to $815) while keeping an Outperform stance—and explicitly encouraging investors to be “opportunistic” heading into the new year. [4]
The key takeaway wasn’t the modest target cut; it was the framing:
- Sentiment is still fragile after the stock’s autumn pullback.
- Bulls see a path to renewed upside tied to AI product execution and monetization, including moves like WhatsApp advertising.
- Bears worry about Meta’s perceived positioning in AI versus rivals, and the competitive pressure from platforms such as TikTok. [5]
For traders, this kind of note can matter in late December because it can influence how institutions think about January positioning—especially when liquidity is thin and “narrative” can briefly overpower fundamentals.
“Wounded sentiment” is still the backdrop: what another widely-circulated analysis is emphasizing
Investor’s Business Daily’s coverage of the same Baird call leaned into the idea that Meta’s investor psychology remains damaged—“wounded sentiment”—after the Q3-related volatility and ongoing AI capex debates. It also highlighted a technical snapshot many momentum-focused traders watch: META recently traded above its 50-day moving average but below the 200-day, a common “in-between” zone where rallies can either rebuild or fade. [6]
In practical terms, that means the stock can be sensitive to:
- incremental AI headlines (product progress, talent, model performance),
- ad-market signals,
- and any update that changes the market’s perception of Meta’s spending trajectory.
Product and platform headline risk: Instagram hints at premium/long-form video experimentation
A second Meta-related story circulating today centers on Instagram’s roadmap.
According to reporting summarized from Semafor and republished by The Fly/TipRanks, Instagram head Adam Mosseri suggested the platform may explore premium content and potentially long-form video—a meaningful shift in tone for an app that has leaned heavily into short-form (Reels) in recent years. [7]
Other outlets reporting the same theme emphasized that “big screen” distribution experiments (including app availability on TV platforms) could make long-form more strategically relevant—and that Instagram is thinking about how it competes in a world where TikTok’s U.S. outlook and platform dynamics remain fluid. [8]
Why it matters for the stock (even if it doesn’t move shares overnight):
- New ad surfaces and new creator monetization formats can strengthen the long-term revenue narrative.
- But any pivot also raises questions about content costs, product focus, and whether Meta can expand formats without diluting engagement.
For Wednesday morning, this is less likely to be a price catalyst than the analyst note—but it’s part of the broader 2026 monetization story investors are already trying to price.
Legal and AI overhang: Meta named in a new copyright lawsuit tied to AI training
On the legal front, Reuters reported that investigative journalist and author John Carreyrou, alongside other writers, filed a lawsuit alleging several AI companies used copyrighted books without permission to train models. The defendants listed include Meta, along with other major AI players. The suit was filed Dec. 22 and surfaced broadly through news wires today. [9]
This is not a “Meta-only” headline, and it’s unlikely to be the sole driver of META price action on a holiday-shortened session. Still, investors track these cases because they add to the long-running question of how AI leaders will manage:
- training-data rights,
- litigation exposure,
- and potential future licensing costs.
Market context today: risk appetite stayed constructive, especially in tech
Tuesday’s session also benefited from a generally supportive tape for large-cap tech. Nasdaq’s market wrap noted the S&P 500 finished higher and the Technology sector outperformed on the day. [10]
That broader backdrop matters for META because the stock still trades as part of the “mega-cap tech” complex—moving with sector sentiment, not just company headlines.
Wall Street forecast check: where price targets and ratings sit heading into Christmas Eve
If you’re trying to understand the “consensus” framing before Wednesday’s open, here’s what the visible data says:
- Markets Insider shows Meta with a heavily bullish analyst skew (overwhelmingly “buy”-leaning), and lists a median target around the high-$700s with a wide spread between low and high estimates. [11]
- StockAnalysis’ “Latest Forecasts” table reflects the most recent named changes, including Baird’s $815 update dated Dec. 23, along with other recent target moves by major firms earlier in December. [12]
The story those targets tell is consistent with what’s been driving META debates for months:
- Bulls are underwriting stronger long-term monetization and durable ad economics.
- Bears focus on AI spending, competitive pressure, and whether Meta’s next wave of AI products can translate into incremental revenue fast enough to justify the investment cycle.
The calendar matters tomorrow: Dec. 24 is a shortened U.S. session with an early close
If you only remember one practical detail for tomorrow, make it this:
U.S. equity markets are open Wednesday, Dec. 24, 2025, but close early at 1:00 p.m. ET. [13]
Two implications for META traders and watchers:
- Liquidity is likely to be even thinner than today, especially after mid-morning.
- Price moves can be more “gappy”—particularly at the open and into the early close—because fewer participants are active.
Reuters also noted that major exchanges are sticking with the standard holiday trading schedule, remaining open on Dec. 24 and returning for a full day on Dec. 26, despite federal government office closures ordered around the holiday. [14]
Next big fundamental catalyst: when Meta’s next earnings window is expected
While the tape is focused on headlines and positioning right now, the next major “hard” catalyst on many calendars is Meta’s next earnings report. Markets Insider’s event calendar lists Meta’s Q4 2025 earnings release in early February 2026. [15]
In the meantime, the market tends to trade META on:
- AI product progress and competitive positioning,
- ad demand and pricing signals,
- regulatory/legal developments,
- and any indication that capex intensity is accelerating or stabilizing.
Dividend note: Meta’s quarterly payout is part of the background narrative
Meta’s dividend is not the main reason most investors own the stock, but it’s part of the company’s “maturity + capital return” storyline. Meta’s investor relations site announced a quarterly cash dividend earlier this month with payment dated Dec. 23, 2025. [16]
What to watch before the market opens tomorrow: a practical checklist for META
Here’s a concise, trader-friendly list of what matters most into Wednesday’s open.
1) Any follow-through analyst action (upgrades/downgrades or target changes)
Baird’s commentary is the headline today, but in thin markets, incremental research notes can move premarket perception quickly—especially if multiple desks echo similar themes. [17]
2) Headline risk tied to AI regulation and AI-related legal cases
The Reuters-reported author lawsuit is part of a broader legal landscape around training data and model development. Any additions (new plaintiffs, early court rulings, or company responses) can shift sentiment, even if fundamentals don’t change immediately. [18]
3) Platform monetization and engagement signals
Instagram’s talk of premium/long-form video is an example of the kinds of product decisions that can become “the next narrative” if investors see a new monetization lever emerging. [19]
4) The “holiday effect”: early close and thin liquidity
A shortened session often means:
- wider spreads,
- faster moves through technical levels,
- and less reliable “signals” from intraday price action. [20]
5) How much movement the options market is pricing in for the rest of the week
One reference point: OptionCharts’ expected-move estimate for META into the Dec. 26 expiration implies roughly a low-single-digit percentage swing range. Treat this as a sentiment gauge, not a forecast. [21]
Bottom line for META after hours: calm tape, but the 2026 debate is already in motion
As of after-hours trading on Dec. 23, 2025, Meta stock is behaving like what it is right now: a mega-cap name in a constructive tech tape, with light holiday volume, and with the market’s attention split between AI investment anxiety and long-run monetization optimism. [22]
Wednesday’s session (Dec. 24) is likely to be more about market mechanics—early close, low liquidity, headline sensitivity—than about a new fundamental revelation. The most actionable approach for readers heading into the open is to track premarket headlines, remember the 1:00 p.m. ET close, and avoid over-interpreting price action in a holiday-thinned market. [23]
This article is for informational purposes only and is not investment advice.
References
1. stockanalysis.com, 2. stockanalysis.com, 3. finviz.com, 4. www.barrons.com, 5. www.barrons.com, 6. www.investors.com, 7. www.tipranks.com, 8. www.businesstoday.in, 9. www.reuters.com, 10. www.nasdaq.com, 11. markets.businessinsider.com, 12. stockanalysis.com, 13. www.nyse.com, 14. www.reuters.com, 15. markets.businessinsider.com, 16. investor.atmeta.com, 17. www.barrons.com, 18. www.reuters.com, 19. www.tipranks.com, 20. www.nyse.com, 21. optioncharts.io, 22. stockanalysis.com, 23. www.nyse.com
