Zuckerberg doesn’t have any good ideas to steal and is cancelling himself.
– Meta reported a second straight quarterly revenue decline and is forecasting another drop in the fourth quarter.
– The company’s Reality Labs division, which houses its VR headsets, lost over $9 billion in the first three quarters.
– The stock plunged in extended trading after already losing two-thirds of its value so far this year,
Meta shares plummet 12% on weak fourth-quarter forecast and earnings miss
Heading into today’s earning from Facebook, which still has the bizarro ticker META (Ok, Zuck, we got the joke, time to change the name and the ticker), the option-implied move was for a staggering 12% swing in the stock price as nobody had any idea what to expect: yes, the recent results from SNAP and GOOGL were ugly, but sentiment was so beaten down that it was unlikely Facebook could really surprise to the downside.
Facebook Craters 16% To 6 Year Low On Dismal Earnings, Warns Of “Revenue Challenges”