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Wall Street rewarded Meta with a massive jump in share price (+15% in one day) when Zuck stated on an earnings call that he was all now about efficiency (and therefore a tacit admission that he won't just throw the entire company off the VR cliff into the abyss). Zuck probably thinks more of the same will buy additional good will from Wall St.
Wall Street rewarded Meta with a massive jump in share price (+15% in one day) when Zuck stated on an earnings call that he was all now about efficiency (and therefore a tacit admission that he won't just throw the entire company off the VR cliff into the abyss). Zuck probably thinks more of the same will buy additional good will from Wall St.
I've started to pay a bit more attention and noticed that there do seem to be a fair number of major investors buying up more shares of a down company before layoffs are announced.
I like to imagine that what we're seeing is a healthy correction and move towards more profitable, sanely run companies. But I can never recall a time in recent years where Wall Street acted in a way I would call "refreshingly sane".
Wall Street rewarded Meta with a massive jump in share price (+15% in one day) when Zuck stated on an earnings call that he was all now about efficiency (and therefore a tacit admission that he won't just throw the entire company off the VR cliff into the abyss). Zuck probably thinks more of the same will buy additional good will from Wall St.
+15% in one day, when the stock is already down 75% from its peak a year or two earlier, doesn't feel like a "massive jump".
Earlier quoted context omitted.
When will they acknowledge that the Metaverse sucks and that Zuckerberg needs to go?
This is how it's acknowledged. A company does not communicate mistakes directly because that would reduce shareholder value.
I'm guessing they may have realized these people aren't worth that much.
Makes you wonder what Facebook has been doing with all those billions spent on VR when Sony is able to produce a better product with a fraction of the investment.