Meta's new job cuts are resonating with investors, helping put the company on track for a closing valuation above $500 billion for the first time since June.
Meta Platforms Inc.’s latest job cuts are resonating with investors, helping put the company on track to finish with a market capitalization above $500 billion for the first time since June.
Shares of Meta META were up about 7% in afternoon trading Tuesday after the company announced plans to cut 10,000 more workers over several months. In November, Meta announced more than 11,000 layoffs.Meta’s afternoon move puts the company on pace to close out Tuesday’s session with valuation upward of $500 billion for the first time since June 8, 2022, according to Dow Jones Market Data. The stock would need to close at or above $192.85 to hit the mark. It recently changed hands at $193.52.
What’s changed for Meta recently? Chief Executive Mark Zuckerberg and his team are listening to what Wall Street wants. Investors were jittery last fall when Meta talked up big spending plans despite growth pressures, but Meta’s management got the message and instituted the first round of big job cuts, followed by Tuesday’s second wave of cuts.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Side hustles that consistently earn you $500With a lot of side hustles, you never know whether you’re going to make $5 or $500 in any given month.
Read more »
Stimulus update: Direct $500 payment to be sent to more than 300 families in two daysA program that will send $500 monthly to 305 families in Sonoma County, California, is set to begin in two days.
Read more »
Pink Floyd’s $500 Million Catalog Sale Is ‘Basically Dead’ — Or Is It?Pink Floyd’s proposed $500 million sale of the rights to their iconic five-decade, multiplatinum recorded-music catalog is “basically dead” because the surviving bandmembers “just can’t get along,”…
Read more »
Stimulus update: Direct $500 payments for more than 300 families to be sent in one dayFamilies receiving money from a guaranteed income program in California only need to wait one more day before they receive their next payment of $500. Sonoma County selected 305 families to receive $500 every month for two years.
Read more »
Bitcoin (BTC) Now Worth Half a Trillion DollarsBitcoin's market capitalization has surpassed $500 billion as its price reaches $26,533 on the Bitstamp exchange, the first time it has hit that mark since July 2022
Read more »
Stocks making the biggest moves midday: BuzzFeed, First Republic, Meta and moreRegional bank stocks rebounded sharply on Tuesday after being hit hard on Friday and Monday.
Read more »