Meta is in trouble after lack of faith in Mark Zuckerberg’s metaverse vision

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Meta is reeling a day after reporting its third-quarter earnings. The company formerly known as Facebook was in trouble Thursday after uninspiring numbers and a clear lack of faith in Mark Zuckerberg’s metaverse vision sent its stock down by 25%.

Meta was trading around $98, down from $130 on Wednesday, at the time of writing. Other technology stocks are in a similar boat. Many tech valuations have fallen due to a challenging economic climate and a war that has exacerbated geopolitical tensions, but Meta’s fall — and the message it sends about the company’s future — is truly remarkable. Meta’s stock is now worth nearly a quarter of what it was late last summer when it hit an all-time high of around $380.

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Meta is in trouble after lack of faith in Mark Zuckerberg’s metaverse vision

Meta is reeling a day after reporting its third-quarter earnings. The company formerly known as Facebook was in trouble Thursday after uninspiring numbers and a clear lack of faith in Mark Zuckerberg’s metaverse vision sent its stock down by 25%.

Meta was trading around $98, down from $130 on Wednesday, at the time of writing. Other technology stocks are in a similar boat. Many tech valuations have fallen due to a challenging economic climate and a war that has exacerbated geopolitical tensions, but Meta’s fall — and the message it sends about the company’s future — is truly remarkable. Meta’s stock is now worth nearly a quarter of what it was late last summer when it hit an all-time high of around $380.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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