Investors Express , Frustration As Meta Stock , Continues To Plummet.
Business Insider reports that Meta investors are unhappy with Mark Zuckerberg's plans for the metaverse as the company's stock continues to plunge.
Since Facebook first announced its parent company was changing its name to Meta, the company has lost over 70% of its value.
Since Facebook first announced its parent company was changing its name to Meta, the company has lost over 70% of its value.
Last week, shares in Meta dropped 24% after the company revealed it had once again missed its earnings targets.
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At the same time, Zuckerberg said he plans to spend billions more on the metaverse project after already dumping $15 billion into it in 2022 alone.
At the same time, Zuckerberg said he plans to spend billions more on the metaverse project after already dumping $15 billion into it in 2022 alone.
If any other company had done this you'd have activist investors writing letters, proposing alternative slates of directors, demanding change, Jim Tierney, chief funding officer for U.S. development at Meta shareholder AllianceBernstein, via 'Financial Times'.
I think Mark heard crystal clear what investors wanted.
He's made his decision, Jim Tierney, chief funding officer for U.S. development at Meta shareholder AllianceBernstein, via 'Financial Times'.
A spokesperson for Meta told 'Financial Times' that the company is , "focused on executing on the company's key priorities with an eye toward creating long-term shareholder value.".
A spokesperson for Meta told 'Financial Times' that the company is , "focused on executing on the company's key priorities with an eye toward creating long-term shareholder value.".
We value the opinions of our investors and regularly engage with them to ensure we're aware of their respective perspectives, Meta spokesperson, via 'Financial Times'.
Business Insider reports that Zuckerberg has complete veto power over other shareholders when it comes to the direction the company is headed.
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Business Insider reports that Zuckerberg has complete veto power over other shareholders when it comes to the direction the company is headed.
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This ironclad control has left investors, who have limited voting power in the company, frustrated as the social media giant's value continues to dwindle
