![]() ![]() The tech-heavy Nasdaq is down nearly 1.8%. Twitter and Amazon are each down about 6%. Spotify is off 15% in the wake of its earnings and amid controversy over podcaster Joe Rogan. Shares of the social media giant were down 4 by 3 p.m. Snap, which reports earnings later today, has signaled similar issues with the Apple policy, and trading down 20%. Investors in Meta Platforms ( META 2.77) were in the red on Thursday. The stock drop had Wall Streeters debating whether yesterday’s news was the bottom, or if there’s more to come if there are structural changes in the business and even whether Meta is shifting to a value company in some ways from a growth company, and if that’s okay.įacebook’s bad day rippled across the sector. That impacts ad targeting, which drives revenue. Turning the feature off makes it harder for companies like Meta to collect data on users. Apple now asks its device users to opt in, or agree, to having apps track their activity across the web. Meta Platforms Inc Share 311.71 After Hours: 313.80 (0.67) +2.09 Closed: Jul 27, 7:32:11 PM GMT-4 USD NASDAQ Disclaimer search Compare to Microsoft Corp 330.72 MSFT2.09 Apple Inc. In the near term, Facebook had warned of the squeeze by Apple’s app tracking technology. ![]() The VR and AV fueled metaverse concept – a network of virtual worlds fueled by social interaction that may also be the next iteration of the Internet - is starting to take hold but still in early stages. The shift comes with a massive $10 billion investment in the sector that is also making Wall Street wince. Its stock symbol will also be changing from FB to MVRS sometime this quarter. ![]() Mark Zuckerberg Throwing In The Towel On Elon Musk Cage Matchįacebook founder Mark Zuckerberg has therefore been pivoting the company to the so-called metaverse, including the name. ![]()
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