Rep. Michael McCaul (R-TX) disclosed a sell-off worth thousands of dollars in Meta stock before shares of the tech giant plummeted in value, filings show.
Meta Platforms third quarter results failed to convince investors that its big bet on the metaverse was bearing fruit, as slowing revenue growth and a sizeable net income drop contributed to more than $65 billion being wiped from the company’s market capitalisation. Following the release of its Q3 2022 earnings,…
The troubling statistics come on the heels of a disappointing earnings report from the social media giant, which has seen its usership wane in recent years.
A decade-long era of breakneck growth in social media advertising has come to an abrupt halt. Inflation, further industry disruption and a privacy crackdown are the main causes.