Meta Stock Slides 14% After Announcement of Plans for “Aggressive” AI Expenditures
Meta, the parent company of Facebook and Instagram, announced plans to launch “aggressive” spending on research of Artificial Intelligence and development of AI products. The news didn’t sit well with the investors and caused the company’s stock to slide more than 14% in after-market...
Meta Stock Soars After Impressive Q1 Earnings Results
Meta Platforms, the parent company of Facebook and Instagram, took investors and analysts by surprise with its first-quarter earnings results. Wednesday’s report revealed that Meta not only topped expectations by a healthy margin but also recorded sales growth after three consecutive negative quarters.
As a...
Meta Plans a New Round of Layoffs That Will Affect Thousands
Meta Inc., the parent company of Instagram and Facebook, plans further to reduce its workforce after massive layoffs in late 2022. According to Bloomberg, Meta will have a new round of layoffs as soon as next week that will affect thousands of employees.
Back in...
Meta Stock Plunges Following Needham Downgrade
The week didn't start well for Meta Platforms, the parent company of Facebook and Instagram. After Needham's analyst Laura Martin downgraded Meta stock to "sell" in a recent note to clients, the company's shares plunged 4.68%.
Meta stock saw a gradual growth last week and...