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Meta surges with record $196 billion gain in stock market value

 Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results.
Meta’s (META.O), opens new tab stock surged 20.3% for the session, also recording its biggest one-day percentage increase in a year and its third biggest since its 2012 Wall Street debut. Its stock market value now stands at more than $1.22 trillion.
Days ahead of Facebook’s 20th anniversary, Meta late on Thursday authorized an additional $50 billion in share repurchases and said its quarterly dividend would be 50 cents per share.
While dividends are associated with mature, slow-growth companies, Meta’s is the fourth offered by Wall Street’s most valuable technology-related heavyweights, along with Apple (AAPL.O), opens new tab, Microsoft (MSFT.O), opens new tab and Nvidia (NVDA.O), opens new tab.
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