Top 5 Gainers on Wednesday

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1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 200

Shares of Meta Platforms, Inc. (NASDAQ:META) rose over six percent after the opening bell on Wednesday. The surge apparently came after the social network giant raised $10 billion through a bond offering.

Meta Platforms, Inc. (NASDAQ:META) plans to use the proceeds from the offering to repurchase its common stock. The company is also expected to invest in initiatives, such as metaverse, among other things.

This is the first time Meta Platforms, Inc. (NASDAQ:META) has raised funds through a bond offering. The latest move came nearly a month after the company reported a first-ever decline in its quarterly sales amid intense competition in the digital ads market.

You can also take a peek at Top 10 Stock Picks of Citadel’s Wellington Fund and Jim Cramer Recommends These 10 Stocks For Recession.

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