By now you've probably seen that the artist-formerly-known-as-Facebook has had a rough week, notching up the biggest one-day loss of value in the stock market's history.
Meta's 2021 revenue was up 37% on last year, and the company delivered a cool $47bn of operating profit — so you'd be forgiven for wondering why investors wiped ~$230bn of value from the company.
In short, Meta has a few problems:
The last one Facebook can at least do something about — and Zuckerberg is spending big ($12bn+ last year) to get the Metaverse here as soon as possible. The question is, how long until it becomes a significant business? It's anyone's guess, but judging by the stock's reaction yesterday, investors aren't feeling patient.