It's not too late for Meta to make a turnaround. However, it'll require that they make some very hard choices, including ditching Zuckerberg's metaverse ambitions.

Mark Zuckerberg seems intent on using majority control to push ahead with big bet on metaverse despite the desires of all other stakeholders in Meta, formerly Facebook.

Meta shares plunge 24% to the lowest price since 2016
Shares of Meta plunged 24.5% Thursday as investors and analysts digested the company’s third-quarter earnings miss and a weak fourth-quarter outlook. Shares closed at $97.94, the lowest price since 2016.

The parent company of Facebook reported quarterly revenue of $27.7 billion Wednesday, a decline of more than 4% year over year and its second straight quarterly decline. Its profit plummeted 52% to $4.4 billion.

Meta warned the fourth quarter would be more of the same, issuing a weaker-than-expected outlook. It’s expecting revenue for the fourth quarter to be $30 billion to $32.5 billion. Analysts were expecting sales of $32.2 billion.

Meta CEO Mark Zuckerberg reiterated his commitment to spending billions of dollars developing the metaverse. Meta’s Reality Labs unit, which is responsible for developing the virtual reality and related augmented reality technology that underpins its plans for the metaverse, has lost $9.4 billion so far this year.

Morgan Stanley downgraded the stock Thursday, citing higher spending. Analyst Brian Nowak slashed his price target to $105 from $205. He expects the company’s issues to persist as Meta continues to increase spending to build out its AI capabilities.

🤑 Get started investing with a free stock from Robinhood: http://join.robinhood.com/lincold1
See your 2020 Robinhood recap here: https://robinhood.com/us/en/2020-recap/



🧠 Here are more videos on the related knowledge:
- My $255,000 Growth Stock Portfolio:    • My $255,000 Growth Stock Portfolio  —...  
- What are stocks?    • What are Stocks? Stocks Explained for...  
- Robinhood Crash Course - Start Investing With $1:    • Robinhood Crash Course — How to Start...  
- How Does Robinhood Make Money?    • How Robinhood Makes $400M a Year on F...  
- How to Protect Your Robinhood Account:    • Urgent Alert - Robinhood Users: How t...  
- Yes, Stocks Go Down:    • Yes, Stocks Go Down - These Four Stoc...  
- What are warrants?    • What is a Stock Warrant? Stock Warran...  
- What are Special Purpose Acquisition Companies (SPAC)?    • Special Purpose Acquisition Company (...  
- Why are SPACs big deals for retail investors?    • SPACs are Greater Opportunity Than Yo...  
- What are the dangers of SPAC warrants?    • The Dangers of SPAC Warrants Explaine...  
- Why I'm Investing $29,000 in $SBE Chargepoint:    • Why I'm Investing $29,000 in Chargepo...  


☘️ Join our Private Patreon Community:
If you would like to support the channel, get priority answers from me, and help me grow Bull Academy, you can become a patron at http://Patreon.BullAcademy.org

Sources:
-

-----------------------------------------------------

🤑 Get started investing with a free stock from Robinhood: http://join.robinhood.com/lincold1

🙏🏾 Thanks for watching http://BullAcademy.org with Lincoln W Daniel
----------------------------------------------------
DISCLAIMER: This and all of my videos are for entertainment purposes only. My statements are my opinions and should not be accepted as financial advice.