META share price has seen a jump of 21% since the date of the announcement of layoffs. It is currently trading near the value of $117.8.
META might limit their investment in Metaverse and virtual reality to $5 Bn per year.
As the economic downturn has picked up its pace, it has affected the revenue of META. Its share price has taken a worse hit and has stumbled from a high of $338 to $88 in recent trading sessions. Last week on NOV 9, When the CEO of META confirmed the 13% layoff, the stock price witnessed a gain of 21% up to date. The share price has consistently risen to $117. In a letter to their employees, Mark said that the company needs to be capital efficient in this environment and has shifted its focus to high-priority growth areas.
Stock market analysts predict that META’s share price will grow consistently as the company reduces its workforce. They are also looking to make the business profitable.
META Bulls Are Ready To Rally For $150
The weekly technical chart of MET
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