** Meta Platforms META.O shares down ~1% on Tuesday, on track for sixth consecutive loss after hitting lowest point since Jan 27, as stock continues to unwind recent rally
** Six-session decline would be its longest losing streak since December 2023. Monday's close marked its longest losing streak since July
** On Feb 18 META finally snapped a 20-session winning streak, which boosted it by 20.5%, vs 3% gain for the S&P 500 .SPX over same time frame
** Shares briefly fell below 50-day moving average of $648.24; has not closed below 50-day MA since Dec 31
** META weighed down by overall risk-off sentiment in market and decline in AI-related stocks ahead of earnings from chipmaker Nvidia NVDA.O after the closing bell on Wed
** META down more than 10% during six-session decline vs drop of nearly 3% in S&P 500
** META last at $658.44 vs Wall St median PT of $767.50 as per LSEG
** META up ~12.2% YTD vs S&P 500 communications services .SPLRCL index 2.8% gain
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))
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