Meta Platforms, Inc. (NASDAQ: META) ended the holiday-shortened Christmas Eve trading session modestly higher, then drifted lower in after-hours trading as investors digested a fresh regulatory jolt out of Europe and continued to debate the company’s aggressive AI spending plans.
The key point for anyone planning a trade “tomorrow”: U.S. stock markets are closed on Christmas Day (Thursday, Dec. 25, 2025). The next regular U.S. equity session is Friday, Dec. 26, 2025. [1]
META stock price after the bell: where shares closed and how they traded after hours
Because Dec. 24 is an early-close day, volume and price moves can look “smaller than usual,” and headlines can have an outsized impact in thinner trading.
Regular session (Christmas Eve early close):
- Close: about $668.05, up roughly 0.47% on the day [2]
- Day’s range: roughly $662.59 to $668.12 [3]
- Volume: about 4.59 million shares, far below Meta’s typical activity (20-day average volume ~16.1M) [4]
After-hours (extended trading):
- As of 8:00 p.m. ET, Meta was indicated around $664.40, down about 0.47% from a regular-session close cited near $667.55. The after-hours range shown was $664.25–$665.20. [5]
The takeaway: META finished the “cash” session near $668 but gave back a few dollars after-hours—a relatively modest move, yet notable given the holiday liquidity backdrop.
The headline driving late-day attention: Italy orders Meta to halt WhatsApp terms that could block rival AI chatbots
The most consequential Meta-specific development on Dec. 24 came from Europe, where Italy’s competition authority (AGCM) ordered Meta to suspend contractual terms tied to WhatsApp that regulators say could exclude rival AI chatbots—part of an investigation into suspected abuse of dominance. [6]
Meta, for its part, called the decision “fundamentally flawed” and said it will appeal, arguing that the rise of AI chatbots has strained systems “not designed to support” that usage. [7]
Why this matters to META stock
Investors tend to treat WhatsApp as a long-run monetization engine (business messaging, payments, and now AI-assisted commerce). Anything that forces Meta to change how WhatsApp’s Business tools work for AI assistants can ripple into expectations for:
- Platform control and “walled garden” economics
- AI feature rollout speed
- Future monetization of WhatsApp-based AI interactions
Adding to the stakes, Reuters reported that:
- Italy’s probe began in July and was expanded in November to cover updated terms for WhatsApp’s business platform. [8]
- EU antitrust regulators opened a parallel investigation last month over similar allegations, and Italy said it was coordinating with the European Commission. [9]
The near-term calendar angle: a Jan. 15 policy change
Investors Business Daily reported that the Italian order is tied to a planned policy change set for Jan. 15 that would have restricted rival AI assistants (including tools from competitors like OpenAI and others) from operating via WhatsApp’s business tools—while Meta AI would remain available. [10]
That date creates a clear, looming catalyst: markets may reprice META quickly if Meta signals a change in approach, a legal win, or escalation.
The other big narrative still hanging over META: AI spending vs. a potential “year of efficiency” reboot
Even before today’s Italy/WhatsApp AI news, Meta’s stock story into year-end has revolved around whether heavy AI infrastructure spending is setting up the next growth leg—or weighing on margins for longer than bulls expect.
A MarketWatch analysis published today framed 2025 as a year when Meta invested heavily in AI—including a $27 billion funding deal for its “Hyperion” supercomputer—while investors worry that costs (including data center depreciation) could outpace revenue growth. [11]
The same analysis pointed to:
- Pressure on management to demonstrate returns on AI spending [12]
- Reports of deeper cuts in Reality Labs and a refocus toward higher-return areas like ad algorithms and wearable AI (for example, smart glasses) [13]
This tension matters for tomorrow’s positioning—especially because the next major “reset moment” is likely earnings guidance.
Analyst targets and forecasts: what Wall Street is implying heading into 2026
Even with late-2025 volatility and ongoing spending concerns, several analyst snapshots circulating now still point to meaningful upside—if Meta can steady the AI spending narrative and keep the core ad machine compounding.
Baird: target trimmed, but “opportunistic buyers”
Barron’s reported that Baird analyst Colin Sebastian reiterated an Outperform rating while trimming his price target slightly to $815 from $820, encouraging investors to be “opportunistic buyers” going into the new year despite “near-term risks to sentiment.” [14]
Broader consensus: still bullish overall
StockAnalysis’ compiled analyst data shows:
- Consensus rating: “Strong Buy”
- Average 12-month target: about $819
- Range: roughly $645 (low) to $1,117 (high) [15]
Investors should treat price targets as opinions, not promises—but the direction of travel matters. If targets keep drifting down, it can weigh on sentiment; if targets stabilize or start rising again, it often helps the stock.
The market backdrop on Dec. 24: Santa rally energy, record highs, and thin holiday volume
Meta didn’t trade in a vacuum today. U.S. indexes finished higher in the shortened session, with the Dow and S&P 500 logging record closes, helped by a rebound in AI-related stocks and lighter holiday volume. [16]
Barron’s also highlighted low trading activity and noted that Communication Services (Meta’s sector) was among the better-performing groups in the session. [17]
This matters for META because in late-year tape conditions:
- Sector rotation can amplify moves in mega-caps
- Reduced liquidity can exaggerate headline reactions
- Positioning into year-end can trump fundamentals in the very short run
What to know before “tomorrow’s open”: markets are closed Dec. 25, so here’s the real checklist for the next session (Dec. 26)
If you’re prepping for a trade, the practical reality is:
- Christmas Day (Thu, Dec. 25): U.S. markets closed [18]
- Next U.S. session: Fri, Dec. 26 (regular hours) [19]
With that in mind, here’s what investors will likely monitor between now and Friday’s open.
1) Any follow-up from Italy’s AGCM or the EU probe
The Italy order is already out; what can move the stock next is incremental clarity:
- Will Meta pause or revise the WhatsApp Business policy change tied to mid-January?
- Will EU regulators escalate, expand scope, or set timelines?
- Does Meta provide more detail on the appeal process or potential operational changes?
Reuters’ reporting underscores that Europe is already coordinating scrutiny on this issue. [20]
2) WhatsApp + AI monetization: “open ecosystem” vs. “Meta-only” direction
IBD’s framing makes clear why this is sensitive: the fight isn’t only about compliance; it’s also about who gets distribution inside WhatsApp. [21]
If markets start to believe Meta must open WhatsApp broadly to rival assistants, investors may debate whether that:
- reduces Meta’s “platform leverage,” or
- expands WhatsApp usage (and business messaging demand) overall
3) Spending discipline signals — especially ahead of the next earnings window
The AI spending debate isn’t going away, and MarketWatch’s “year of efficiency” angle suggests investors are hungry for any sign of:
- tighter capex/opex guidance,
- Reality Labs discipline,
- clearer ROI story for AI infrastructure and AI assistants. [22]
4) Technical levels traders are watching into year-end
For those tracking technicals:
- 50-day moving average: ~$658.49
- 200-day moving average: ~$672.09
- RSI: mid-to-high 50s (not extreme) [23]
And from Barchart’s turning-point summary, traders often watch nearby pivot areas around the mid-$660s and low-$670s, with the stock still well below the 52‑week high noted near $796.25. [24]
5) Holiday liquidity risk
Today’s volume was far below normal for META, consistent with the broader holiday tape. [25]
That’s a simple but crucial point: Friday’s open can gap on relatively small headlines if liquidity remains thin.
Bottom line for META stock tonight
Meta stock closed Christmas Eve modestly higher near $668, then edged lower in after-hours trading toward $664. [26]
The headline risk to watch is clear: European regulators are challenging whether WhatsApp can be structured to privilege Meta AI while limiting rivals, and Italy’s order adds urgency ahead of a policy timeline reported for mid-January. [27]
Meanwhile, the bigger investor debate remains the same going into 2026: Can Meta prove that today’s AI spending surge turns into durable, high-margin growth—without reigniting margin fears? [28]
References
1. www.nasdaq.com, 2. stockanalysis.com, 3. stockanalysis.com, 4. stockanalysis.com, 5. public.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.investors.com, 11. www.marketwatch.com, 12. www.marketwatch.com, 13. www.marketwatch.com, 14. www.barrons.com, 15. stockanalysis.com, 16. www.reuters.com, 17. www.barrons.com, 18. www.nasdaq.com, 19. www.nasdaq.com, 20. www.reuters.com, 21. www.investors.com, 22. www.marketwatch.com, 23. stockanalysis.com, 24. www.barchart.com, 25. stockanalysis.com, 26. stockanalysis.com, 27. www.reuters.com, 28. www.marketwatch.com
