Meta’s stock plummeted because it lied about ‘value of the company’

Meta (FB) CEO Mark Zuckerberg on Tuesday unveiled new plans for the company’s turn toward the metaverse, introducing company values like “live in the future” and telling employees they’ll be referred to as “metamates.”

Shares of Meta ticked up slightly on the day but the company’s stock remains about 31% below where it stood upon the release of disappointing earnings at the outset of the month.

Observers on Wall Street and in Silicon Valley have attributed the sudden collapse to sluggish user…


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