Meta Platforms Inc. shares rose on Monday, with the Facebook parent company leading an advance among big-cap technology and internet stocks amid signs of strong demand for its Oculus virtual reality headset during the holiday season.
The stock gained 3.3% and closed at its highest level since Nov. 15. U.S. stocks were broadly higher on Monday, with tech names among the leaders, and Meta got a boost after KeyBanc Capital Markets wrote that Oculus was likely a popular gift over the holiday season. The firm cited the rankings of the Oculus app in Apple Inc.’s app store, which “suggest a solid Christmas selling season.”
