FILE PHOTO: A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier
NEW YORK: Facebook parent Meta Platforms Inc forecast a weak holiday quarter and significantly more costs next year, sending shares down nearly 20% as investors voiced scepticism about the company’s pricey metaverse bets.
The forecast knocked about US$67bil (RM315bil) off Meta’s stock market value in extended trade, adding to the more than half a trillion dollars in value already lost this year.
