Meta Platforms (NASDAQ: META) stock is losing ground Wednesday. The tech giant's share price was down 2% as of 2 p.m. ET and had been down as much as 2.9% earlier in the daily session. Meta's valuation is moving lower following news that its WhatsApp messaging platform will fall under new regulations in the European Union.

Meta Platforms’ (META) recent record-breaking 20-day rally drove its share price to an all-time high on February 14, which led to speculation

Meta Platforms Inc.’s recent record-breaking, 20-day rally propelled the share price to a level where investors may start calling on the company to split its stock for the first time since going public in 2013.