Meta Platforms (NASDAQ: META) spent Thursday’s session under pressure as investors digested a stinging court defeat in Spain, fresh privacy probes in Europe, ongoing concerns about massive AI spending – and, paradoxically, a landmark antitrust victory in the United States that removes the threat of a forced breakup. [1]
As of the latest trades on November 20, Meta stock was changing hands around $586 per share, down roughly 0.7–0.8% on the day, after swinging between about $586 and $607. That leaves the social-media and AI giant with a market cap near $1.8 trillion and more than 22% below its late‑October peak around $759, putting the stock firmly in “bear market” territory by the standard 20% drawdown rule. [2]
Yet Wall Street’s average 12‑month price target still sits around $820–$825, implying roughly 40% upside from current levels, and large institutional investors continue to increase their positions. [3]
Below is a breakdown of the key Meta stock news specifically for November 20, 2025, and how it fits into the bigger picture for META investors.
1. How Meta Stock Is Trading Today
- Latest price: About $585–$590 intraday, down modestly on Thursday. [4]
- Day’s range: Roughly $586–$607, after opening near $603. [5]
- 52‑week range: $479.80 – $796.25. [6]
- Drawdown from recent high: The stock is now about 23% below its October 29 high around $759.15, meeting the typical definition of a “bear market” for a single stock. [7]
- Valuation: Recent data puts Meta at roughly 26x trailing earnings and under 20x forward earnings, with a dividend yield around 0.3–0.4%. [8]
Short-term sentiment is fragile. A widely cited technical note from Stocktwits highlights that Meta has closed lower in four straight sessions, is down more than 22% from its recent peak, and has a 14‑day RSI near 23, which is typically considered oversold. [9]
2. Spanish Court Orders Meta to Pay €479M to Digital Media Companies
Thursday’s headline risk for Meta came out of Madrid, where a commercial court ordered the company to pay €479 million (about $552 million) to 87 Spanish digital media outlets and news agencies. [10]
What the ruling says
According to court documents and multiple news reports:
- The judge found that Meta gained a “significant competitive advantage” by using personal user data for behavioural advertising on Facebook and Instagram without obtaining valid consent, breaching the EU’s GDPRand Spain’s competition rules. [11]
- The ruling covers Meta’s shift in 2018 from consent-based data processing to “contractual necessity,” which European regulators later deemed inadequate. Meta switched back to consent in 2023, but the court concluded that profits during the five‑year period – estimated above €5.3 billion – were partly illicit gains. [12]
- The compensation will be shared among the 87 digital publishers and news agencies, many of them smaller online outlets that argued they were disadvantaged in the ad market. [13]
Meta has said it disagrees with the decision and plans to appeal, meaning the case will likely drag on for years. But for investors, the decision reinforces a key theme: European regulators are willing to convert data‑protection disputes into sizable cash penalties, not just warning letters. [14]
3. Spain’s New Privacy Probe: A Second Front in Europe
Thursday’s court decision in Spain lands just one day after Prime Minister Pedro Sánchez announced a separate, government‑led investigation into Meta over alleged “hidden” tracking of Android users. [15]
Key points from that probe:
- Research groups in Spain, Belgium and the Netherlands allege that Meta deployed a covert mechanism inside Android devices to track web activity without users’ informed consent. [16]
- Spain says Meta may have violated multiple pillars of EU digital law at once: GDPR, the ePrivacy Directive, the Digital Markets Act (DMA) and the Digital Services Act (DSA). [17]
- Meta executives are expected to face parliamentary hearings, while regulators coordinate with counterparts elsewhere in Europe. [18]
Combined with Thursday’s €479M ruling, the new probe raises the odds of additional fines, behavioural remedies, or stricter ad‑targeting rules in the EU — all of which could weigh on Meta’s margins and growth in Europe over time.
4. A Rare Legal Tailwind: Meta’s Big Antitrust Win in the US
Balancing the European pressure is a major legal win in Washington earlier this week. On Tuesday, a US federal judge rejected the Federal Trade Commission’s bid to force Meta to spin off Instagram and WhatsApp, ruling that the company is not an illegal social networking monopoly. [19]
Across multiple reports:
- Judge James Boasberg concluded that the FTC failed to prove Meta currently holds monopoly power, noting that competition from TikTok, YouTube and other platforms has fundamentally changed the market since Facebook’s early dominance. [20]
- The ruling shuts down – at least for now – the most serious threat that Meta could be forced to unwind its flagship acquisitions, which are central to its advertising and AI strategy. [21]
For shareholders, this is a big deal. Instagram, WhatsApp and Threads are key surfaces for Meta’s AI‑driven ads, messaging, and future commerce products. Losing them would have destroyed much of the investment case. Instead, the company walks away with legal risk reduced on one front, even as privacy and youth‑safety cases continue elsewhere.
5. Q3 Earnings: Strong Fundamentals, Massive AI Spending
Thursday’s trading is still being shaped by Meta’s October 29, 2025 Q3 earnings report, which triggered the stock’s slide into bear‑market territory despite strong top‑line growth. [22]
Headline numbers:
- Revenue: About $51.4 billion, up 26% year‑over‑year, beating analyst expectations near $49.5 billion. [23]
- Net income (reported): $2.71 billion, or $1.05 per share, depressed by a one‑time tax charge of nearly $16 billion linked to new US tax legislation. [24]
- Net income (underlying): Excluding the tax hit, profit would have been around $18.6 billion, highlighting how strong the core business remains. [25]
- Daily active people: About 3.54 billion users across Facebook, Instagram, WhatsApp, Messenger and Threads, up 8% year‑over‑year. [26]
- Q4 revenue guidance: $56–$59 billion, covering consensus estimates but not blowing them away. [27]
What really spooked investors was guidance on capital expenditure and 2026 costs:
- Meta lifted its 2025 capex forecast to $70–$72 billion, up from an already huge $66–$72 billion, as it races to build AI datacenter capacity. [28]
- The company signalled that 2026 expenses will grow much faster than in 2025, driven by infrastructure spending and high compensation for AI talent. Analysts now peg 2026 total expenses around $97 billion. [29]
In plain English: Meta is printing cash, but it’s also burning cash on AI. That tug‑of‑war between current profitability and future AI dominance is at the core of the META bull‑vs‑bear debate.
6. AI Talent Shake‑Up: Yann LeCun Leaves, but Not Completely
Another big storyline hanging over Meta stock this week is the departure of Yann LeCun, the company’s long‑time Chief AI Scientist and one of the “godfathers” of deep learning. [30]
- LeCun joined Facebook in 2013 and founded the FAIR lab, which helped power much of Meta’s progress in computer vision and large‑scale AI models. [31]
- He confirmed on Wednesday that he will leave at the end of 2025 to launch a new startup focused on Advanced Machine Intelligence (AMI) – his vision of AI that learns more like humans and can reason more deeply than today’s models. [32]
- Importantly for investors, LeCun said that Meta will be a partner in the new venture, suggesting ongoing collaboration rather than a clean break. [33]
A TipRanks analysis published Thursday notes that Meta’s share price has held up better than many feared in the face of such a high‑profile exit, reinforcing the perception that the company’s AI strategy is bigger than any single individual – though it does underscore how much Meta relies on retaining elite talent. [34]
7. Youth Safety: Meta to Block Facebook & Instagram for Australian Teens
Regulation isn’t just about privacy and competition. On Thursday, Reuters reported that Meta will block users under 16 in Australia from using Facebook, Instagram and Threads by December 10, in response to a sweeping national social‑media ban for teenagers. [35]
- Meta has already begun notifying 13‑ to 15‑year‑old users that their accounts will be shut down, and will start deactivations on December 4. [36]
- The law requires platforms to take “reasonable steps” to keep minors off their services; non‑compliance could mean fines up to A$49.5 million. [37]
While Australia is not Meta’s largest market, the move is a reminder that youth‑safety regulations can directly shrink the addressable user base – and similar ideas are being debated in Europe and the United States.
8. Wall Street’s View: Still Bullish, But Getting More Cautious
Despite the recent sell‑off and the wall of regulatory noise, most analysts remain positive on Meta stock.
- Consensus rating: Data compiled by MarketBeat and StockAnalysis shows a “Strong Buy” / “Moderate Buy”consensus, with the vast majority of covering analysts rating Meta as Buy or Strong Buy, a handful at Hold, and only a token Sell. [38]
- Average price target: Around $820–$825, implying roughly 35–40% upside over the next 12 months from current levels. [39]
- Wedbush recently added Meta to its “Best Ideas” list, reiterating an Outperform rating and a $920 price target, signalling confidence that AI investments will pay off. [40]
- Zacks Research this week raised its 2025 EPS estimate for Meta from $27.80 to $28.33, while maintaining a Neutral/Hold stance and acknowledging that AI‑related spending is the primary source of volatility. [41]
At the same time, several pieces out today warn about downside risks:
- Trefis argues Meta stock “can sink” if AI and metaverse spending continues to climb faster than revenue, citing Reality Labs’ Q3 operating loss of $4.4 billion, heavy capex commitments and ongoing regulatory headwinds. [42]
- A Stocktwits feature stresses that the stock is in a technical downtrend inside a broader consolidation, and that some prominent investors – including Michael Burry – view hyperscaler accounting for AI infrastructure as overly aggressive, potentially exaggerating earnings. [43]
Net‑net, the Street still sees Meta as a profitable AI leader with room to run, but the tone has clearly shifted from euphoria to “show me” mode on capital returns.
9. Big Money Moves: Hedge Funds and Insiders
Several institutional and insider moves were disclosed today that Meta shareholders are watching closely:
Institutional buying
- DJE Kapital AG increased its Meta stake by 12.6% in Q2 to 286,153 shares, now worth about $211 million and making META its second‑largest portfolio position at 5.1%. [44]
- Acadian Asset Management reported boosting its META holdings by 3.9% to 1.41 million shares, roughly $1.04 billion in value, making the stock its sixth‑largest position. [45]
- Pier 88 Investment Partners opened a new position of 7,000 shares, about $5.2 million, making Meta its 29th‑largest holding. [46]
These filings suggest that long‑term, fundamentals‑focused investors are still willing to buy Meta on weakness, even as the headline risk ramps up.
Insider selling
On the flip side, there has been notable insider selling:
- CFO Susan Li sold 6,875 shares at an average price around $609, a roughly $4.19 million transaction. [47]
- Director Robert M. Kimmitt sold 600 shares at around $609, worth about $366,000. [48]
Over the past 90 days, insiders have sold about 29,000 shares worth roughly $19.2 million. MarketBeat notes that insiders still own more than 13% of the company, so these trades are relatively small in context, but they do add to the perception that top executives are locking in gains after the massive multi‑year rally. [49]
10. Bull vs. Bear Case After Today’s Headlines
Putting all of today’s Meta stock news together, here’s how the investment debate looks heading into the close of November 20, 2025.
The bull case
Supporters of Meta stock focus on:
- Dominant ad business with 26% revenue growth and huge free‑cash‑flow margins, even after the AI build‑out. [50]
- A massive user base of 3.5+ billion people using at least one Meta app daily, providing unmatched data and monetisation potential. [51]
- An increasingly robust AI platform (Llama models, Reels ranking, ad optimisation) that’s already driving better ad performance and could open new revenue streams over time. [52]
- A big legal overhang removed by the US antitrust win, lowering the risk of a forced breakup of Instagram and WhatsApp. [53]
- A stock that is down more than 20% from its recent high yet still widely rated a Buy with targets suggesting 30–40% upside. [54]
The bear case
Sceptics point to:
- Runaway AI capex – $70–$72 billion this year alone – with no guarantee that future AI revenues will justify the spending, especially if the broader AI trade cools. [55]
- Regulatory risk everywhere, from Spain’s €479M decision and Android‑tracking probe to youth‑safety rules (like Australia’s teen ban) and upcoming US trials over social media’s impact on children. [56]
- Execution risk on AI after the departure of LeCun and other senior leaders, alongside ongoing competition from Google, OpenAI and other AI powerhouses. [57]
- A stock that, even after the drop, still trades at a premium to the broader market on key valuation metrics. [58]
11. What Today Means if You’re Watching META
For traders and long‑term investors alike, November 20, 2025 crystallises the Meta thesis:
- Legally, the company just scored one of the biggest antitrust wins in Big Tech history – but also suffered one of its more painful privacy‑related defeats in Europe. [59]
- Fundamentally, the ad machine is still humming and AI is clearly working for the ad business, yet the price tag of that AI arms race is huge and rising. [60]
- Technically, the stock is in a short‑term downtrend and officially in bear‑market territory, even while sentiment indicators and RSI suggest it may be oversold. [61]
Whether Meta stock is a buy, sell or hold after today’s news ultimately depends on your:
- Time horizon (Can you ride out multi‑year AI spending cycles and regulatory battles?)
- Risk tolerance (Are you comfortable with big drawdowns in high‑beta tech names?)
- View on AI (Do you believe Meta’s massive infrastructure bet will translate into durable, high‑margin revenue streams?)
This article is for informational purposes only and is not financial advice. Before making any investment decisions about Meta stock (or any other security), consider speaking with a qualified financial advisor and doing your own research tailored to your specific circumstances.
References
1. www.reuters.com, 2. stocktwits.com, 3. stockanalysis.com, 4. stockanalysis.com, 5. stockanalysis.com, 6. stockanalysis.com, 7. stocktwits.com, 8. stockanalysis.com, 9. stocktwits.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.thedailystar.net, 14. wiky.com, 15. coincentral.com, 16. coincentral.com, 17. coincentral.com, 18. coincentral.com, 19. www.ft.com, 20. www.washingtonpost.com, 21. www.ft.com, 22. apnews.com, 23. apnews.com, 24. apnews.com, 25. www.reuters.com, 26. apnews.com, 27. apnews.com, 28. www.reuters.com, 29. apnews.com, 30. www.reuters.com, 31. www.reuters.com, 32. www.reuters.com, 33. www.reuters.com, 34. www.tipranks.com, 35. www.reuters.com, 36. www.reuters.com, 37. www.reuters.com, 38. www.marketbeat.com, 39. stockanalysis.com, 40. finviz.com, 41. www.marketbeat.com, 42. www.trefis.com, 43. stocktwits.com, 44. www.marketbeat.com, 45. www.marketbeat.com, 46. www.marketbeat.com, 47. www.marketbeat.com, 48. www.marketbeat.com, 49. www.marketbeat.com, 50. apnews.com, 51. apnews.com, 52. www.reuters.com, 53. www.ft.com, 54. stocktwits.com, 55. www.reuters.com, 56. www.reuters.com, 57. www.reuters.com, 58. www.trefis.com, 59. apnews.com, 60. apnews.com, 61. stocktwits.com
