Re:Is Facebook's Metaverse Turning into a Ghost Town?
by paulpauper on Thursday March 16, 2023 @11:46PM
(#35192790)
A year-and-a-half after his corporate makeover, the situation at Meta is more dire than ever. Back in October 2021, Facebook shares were trading above $340, but now they are below $200—that’s a loss of around $300 billion in market value.
Yeah but everything tanked. The QQQ was down something like 35% off its highs. META stock has more than doubled off its lows, and looks like it wants to make new highs within a few years. It's only back to where it was a few years ago. I think as far as Wall Street is concerned, the Metaverse was a failed experiment or a distraction, but the main events are Instagram, Facebook, and the money-printing machine that is mobile advertising and CPC ads, which are still booming.
Yeah but everything tanked. The QQQ was down something like 35% off its highs. META stock has more than doubled off its lows, and looks like it wants to make new highs within a few years. It's only back to where it was a few years ago. I think as far as Wall Street is concerned, the Metaverse was a failed experiment or a distraction, but the main events are Instagram, Facebook, and the money-printing machine that is mobile advertising and CPC ads, which are still booming.