Why Meta Platforms Stock Is Climbing Today

Meta Platforms (META 0.81%) stock is climbing higher Thursday despite a bearish backdrop for the broader market. The company's share price was up 1.1% as of 3 p.m. ET. Meanwhile, the S&P 500 (^GSPC -0.31%) was down 0.4%, and the Nasdaq Composite (^IXIC -0.46%) was down 0.6%.Meta's valuation is moving higher today following recent comments from company officials reaffirming support for virtual-reality (VR) initiatives. The company is playing a leading role in advancing VR, but it's been a costly initiative f ...