It is worth noting that Meta is also in a financial death spiral, just like Twitter, so the comparison doesn't just stop there.
They've made a massive gamble on pivoting to VR to save them from irrelevance but that seemingly has already flopped.
They've made a massive gamble on pivoting to VR to save them from irrelevance but that seemingly has already flopped.
$120B in revenue, $20B in profit last year
Unless they pivot soon, they're in deep trouble, with a declining user base (particularly young people) and a consistent loss in ad revenues. One big problem Meta has is they went "all in" on a VR bet, that isn't working.
In 'deep trouble' with 2 billion daily active users on each platform: Facebook, Instagram and WhatsApp, resulting in the stock doubling in less than 3 months of screaming about the chorus of the end of times for Meta.
I guess betting against HN is somewhat a profitable move when everyone was scared to buy the stock at $88.
user base is growing 1.75% YoY
In the last earnings call it was reported that Facebook had just broke 2 billion MAU. The user base is inclining. Meta's family of apps' MAU increased by 4% year over year.
Stock price has little to do with company financial health.
Now that they are coming back a closer to normal, providing normal services start to make a bit more sense for companies.