META - Why LivePerson Stock Is Sinking This Week
2023-09-29 08:38:46 ET
LivePerson (NASDAQ: LPSN) stock is losing ground in this week's trading. The company's share price was down 9.9% from last week's market close before the market opened this Friday, according to data from S&P Global Market Intelligence .
In addition to investor concerns that the Federal Reserve will raise interest rates again this year, LivePerson is seeing its stock pressured by emerging competitors. Meta Platforms (NASDAQ: META) is making a bigger play in the chatbot technologies space, and it could threaten the automated customer-service specialist.
On Wednesday, Meta Platforms announced that it was rolling out new chatbots and generative artificial intelligence ( AI ) development tools. The new offerings see the tech giant encroaching further on LivePerson's turf and threatening the smaller company's growth outlook.
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Why LivePerson Stock Is Sinking This Week