Is Facebook's Metaverse Turning into a Ghost Town?

tedgioia.substack.com

13 pointspaulpauper3 comments

A year-and-a-half after his corporate makeover, the situation at Meta is more dire than ever. Back in October 2021, Facebook shares were trading above $340, but now they are below $200—that’s a loss of around $300 billion in market value.

Yeah but everything tanked. The QQQ was down something like 35% off its highs. META stock has more than doubled off its lows, and looks like it wants to make new highs within a few years. It's only back to where it was a few years ago. I think as far as Wall Street is concerned, the Metaverse was a failed experiment or a distraction, but the main events are Instagram, Facebook, and the money-printing machine that is mobile advertising and CPC ads, which are still booming.

Stock doubled because of the layoffs and $40B stock buyback.

"Experts say yes."

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