What's Happening at Meta Platforms?
Meta Platforms (NASDAQ: META), the parent company of Facebook, is on something of a journey. Founder, chairman, and chief executive officer Mark Zuckerberg insists the metaverse is the next big thing, and he's betting the company's future on it. Chief operating officer Sheryl Sandberg, the architect of the company's lucrative ad-based revenue model, is stepping down. Meanwhile, Meta's stock price is down 55% from its all-time high.
So what are investors to make of all this? Is the stock a screaming buy, or a train wreck waiting to happen? Let's dig in and see.
In case changing the name of the company didn't get the point across, Zuckerberg has made it clear: His company is going all-in on the metaverse. Back in February, Meta announced that its Reality Labs segment, which is tasked with bringing Zuckerberg's vision of the metaverse to life, lost over $10 billion in 2021. That's on top of losses of $6.6 billion in 2020 and $4.5 billion in 2019.
Source Fool.com
