That's a 4.47% decline year-over-year. Stock -15% YOY vs -5% for the SP500.
Unless they pivot soon, they're in deep trouble, with a declining user base (particularly young people) and a consistent loss in ad revenues. One big problem Meta has is they went "all in" on a VR bet, that isn't working.
In 'deep trouble' with 2 billion daily active users on each platform: Facebook, Instagram and WhatsApp, resulting in the stock doubling in less than 3 months of screaming about the chorus of the end of times for Meta.
I guess betting against HN is somewhat a profitable move when everyone was scared to buy the stock at $88.
What makes you say "isn't working"? VR and the Metaverse are long term bets, they're not meant to be working yet. Far too early to write off as failures.
In the last earnings call it was reported that Facebook had just broke 2 billion MAU. The user base is inclining. Meta's family of apps' MAU increased by 4% year over year.
Unless they pivot soon, they're in deep trouble, with a declining user base (particularly young people) and a consistent loss in ad revenues. One big problem Meta has is they went "all in" on a VR bet, that isn't working.