Meta Shares Rise Despite Amazon Blocking Muse Shopping Agent
Meta Platforms, Inc.'s (NASDAQ:META) stock price surged by 11.34% to close at $741.25 on Monday, with a trading volume of 48.25 million shares.
The company's shares were boosted after analyst Ken Gawrelski from Wells Fargo raised his target price to $796 from $640 and maintained an Overweight rating.
Gawrelski cited Meta's Muse agent, which has seen early traction with 264,000 U.S. downloads on September 19 and daily users reaching 448,000 one day earlier, according to Sensor Tower data.
However, Amazon blocked Meta's Muse shopping agent from its retail site, removing America's largest online store from a core task of the agent.
This development tests whether Meta can monetize an agent across platforms it does not control and raises questions about the company's ability to offset higher infrastructure costs.