Facebook’s stock is down 70% from its original value at the beginning of 2022, now worth roughly $90 dollars. Many of the issues are related to the “metaverse,” as investors are displeased with its direction and Facebook’s preoccupation with the failing project.
From Just the News:
David Older, an asset manager at Carmignac, claimed that Zuckerberg has been "tone-deaf to the investment community, doubling down on everything." “The timeline for the metaverse is very stretched. I don’t think you’re going to know if it is the right move for five or 10 years," he told FT. Meta, meanwhile, told FT that the company "value[s] the opinions of our investors and regularly engage with them to ensure we’re aware of their respective perspectives.”
