Meta's stock has been in freefall throughout 2022, by more than 60 percent.
Rivals such as TikTok have hurt the social-media company, as well as a slowdown in online advertising spending and challenges from's iOS privacy update, which Facebook said would result in a $10 billion revenue loss this year. In February, the company also reported its first-ever fall in daily user numbers.
Peter Garnry, head of equity strategy at Saxo Bank, wrote on Thursday:"Meta has gone from its highest free cash flow in its history in Q4 2021 to the lowest in more than 10 years only three quarters later, as Mark Zuckerberg is betting everything on the Metaverse as the computing platform of the future.
"Investors are telling Mark Zuckerberg to lower his ambitions and spend less money on the Metaverse, but the founder is doubling down, saying operating losses will increase further next year from the current level of $12.7bn in the past year," Garnry added. "If Mark Zuckerberg does not listen to the market and continues down the 'move fast and break things' mentality on his company's finances in his quest to create a new computing platform for the future, he could end up breaking things so much that Meta gets constrained so severely that it will go on to lose future battles against its competitors.
It means there’s going to be riots in ten days
Cuz Mark Zuckerberg is like an anthropomorphic ghoul penis and his company sucks and no one wants to be involved?
Facebook is going down