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Meta Stock Drops 3.48% Amid Tax Controversy, AI Leadership Change
Generated by AI AgentAinvest Movers Radar
Thursday, Apr 3, 2025 5:53 am ET1min read
On April 3, 2025, Meta's stock experienced a 3.48% drop in pre-market trading, reflecting investor concerns and market sentiment.
Meta's tax practices in Korea have come under scrutiny, with the company reportedly earning nearly 100 billion Korean won through Instagram and
, but only paying 5.4 billion Korean won in corporate taxes. This discrepancy has sparked criticism and accusations of tax avoidance, as Meta's Korean subsidiary transferred a significant portion of its revenue to its Irish headquarters as "advertising procurement fees."Meta's AI research division, FAIR, is facing a significant leadership change with the departure of Joelle Pineau, who has been a key figure in the team's success. Pineau's departure has raised questions about the future direction of FAIR and its impact on Meta's AI initiatives. The company has initiated a global search for a new leader to continue FAIR's innovative work.
Meta is also facing scrutiny from U.S. lawmakers regarding its past efforts to establish a presence in China and its alleged ties to censorship tools. The Senate Judiciary Subcommittee is set to hold a hearing to examine these issues, which could further impact the company's reputation and stock performance.
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