Despite the market's dour mood on Friday, shares of Meta Platforms ( META 0.84%) rallied, gaining as much as 3.1%. As of 3:03 p.m. ET, the stock was still up 1.9%. It was not one catalyst that sent the social media and artificial intelligence (AI) giant higher, but rather a flurry of developments, each from a different quarter.

Shares of Meta Platforms Inc. inched 0.84% higher to $615.86 Friday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index falling 1.63% to 19,161.

According to data from S&P Global Market Intelligence, the stock jumped 65% last month. As you can see from the chart below, the stock jumped early in the year on a strong earnings report, and though it swung up and down, the general trajectory was up, in line with the gains in the S&P 500.