Meta Platforms Inc. Neutralizes Chinese Spam Network While Surging 900 Points And Approaching The $300 Stock Milestone

• Meta has deactivated nearly 9,000 accounts, groups, and pages linked to a Chinese political spam network.
• The Chinese spam network was part of the larger Spamouflage operation, criticizing the U.S. and Western foreign policies.
• Meta experienced a bullish day in the stock market, surging by over 900 points.

Meta Platforms Inc META, the parent company of Facebook and Instagram, has made a significant move to combat disinformation and political spam.

Taking decisive action, the company has deactivated almost 9,000 accounts, groups, and pages associated with a Chinese political spam network.

This network was specifically targeting users in Australia and other parts of the world.

The Chinese spam network had a widespread impact, reaching countries such as Australia, Taiwan, the United States, the United Kingdom, Japan, and Chinese-speaking audiences worldwide.

This campaign extended beyond Meta's platforms and was a part of the Spamouflage operation, which operated on over 50 online platforms and forums, including YouTube, TikTok, and the platform X, formerly known as Twitter.

The network's messaging was far from subtle. It mainly shared content that praised China and its Xinjiang province, while also taking aim at the United States, Western foreign policies, and those who criticize the Chinese government, including journalists and researchers.

Surprisingly, the campaign only spent a modest amount of $3,500 on Facebook ads.

Despite the existence of a large spam network, Meta's stock performance tells a different tale.

The company had a highly successful day in the markets, with an impressive surge of over 900 points.

This demonstrates that investors have strong confidence in Meta, as evidenced by their continued acquisition of shares despite the ongoing events.

As a result of the surge, Meta's stock price is inching closer to the significant $300 mark.

While it fell short of reaching this level on August 24th, the recent upward momentum has sparked renewed optimism for a successful breakthrough.

The last time Meta's stock reached a price higher than $300 was on August 16th.

During that period, the stock was experiencing a decline after reaching its peak of $326 on July 28th, dropping to a low of $274 by August 18th.

For the price to surpass the $300 level again, the stock will need to break through the daily 20 and 50 simple moving averages, which are currently at $298.

If it manages to exceed $300, the next significant resistance level to watch for is last year's high of $343.

Meta has achieved impressive year-to-date growth, standing at a remarkable 141%.

With its strong performance and proactive measures against disinformation campaigns, the company is poised to sustain this upward trajectory.

After the closing bell on Tuesday, August 29, the stock closed at $297.99, trading up by 2.66%.