Meta Falls, Olaplex Surges, Car Rentals Soar
Stock Movers26 Maalis

Meta Falls, Olaplex Surges, Car Rentals Soar

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Meta Platforms (META) and Google Parent Alphabet (GOOG) shares were down today as investors see a long-term overhang related to verdicts in a social media addiction trial. Yesterday, a jury found Meta and Google liable for a 20-year-old woman's mental health struggles, which she said were caused by her addiction to social media, and ordered them to pay damages.

- Shares of haircare brand Olaplex Holdings (OLPX) surged after German consumer brand Henkel announced that it has agreed to buy the company.

- As travelers across the US endure hours-long security lines at airports due to the partial government shutdown, investors are piling into car-rental companies on bets the disruption will push more people onto the road. Hertz Global Holdings Inc. (HTZ) shares rose about 9.2% on Thursday, while Avis Budget Group Inc. (CAR) surged 13% for its biggest one-day gain since June, as chaos at US airports drove optimism that more travelers would rent cars instead. Traffic to Hertz’s website jumped about 15% this week as customers looked for ways around air-travel disruptions. The company has been promoting discounts on last-minute reservations and one-way rentals.

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