Meta’s shares fall after metaverse investments lose billions

Meta shares fell 20 per cent last week and were trading at US$100.55, the lowest since February 2016. Investors are unhappy, as Reality Labs, Meta’s metaverse unit, has already lost US$9.44 billion in revenue this year and expects to lose even more next year, while the company’s ad market, its main source of revenue, continues to dry up.

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