Mark Zuckerberg’s Meta Mismanagement Ruined the Stock Price

If you checked the stock market, Meta’s stock has reached $114.20. Not bad, some would say. But considering that the company’s stock was $312.20 in October 2021, that’s terrible, especially for investors. 

When Facebook CEO Mark Zuckerberg announced last October that the company would change its name to Meta and become a “metaverse corporation,” he created a picture of an unrealistic world in which billions of people would spend hours absorbed in immersive virtual environments.   

After the meta madness started, Zuckerberg initiated numerous changes that seemed in the end to be failures. The Facebook page management dashboard was modified and turned to have thousand different appearances. The company made many updates to the advertising platform that have turned into bugs. And the failed cryptocurrency initiatives didn’t help at all. 

And the cherry on top, he started showing images of his virtual reality which resulted in adverse reactions, describing it as ‘lame’ or ‘uninteresting.’  

All these unfortunate events have brought the stock price to a low level. Starting with the new Horizons app that didn’t meet expectations, users began to be skeptical. They said that Meta CEO should prioritize growing engagement and revenue on the company’s core apps, Facebook, Instagram, and WhatsApp.  

How many more red flags does Mark Zuckerberg need to give up his metaverse?

Over the past year, CEO Mark Zuckerberg has focused exclusively on his project, the metaverse. The project’s concept is more complex, but the main idea is that people can communicate with one another through virtual worlds rather than through conventional means. 

The metaverse was intended to provide Meta with a new beginning. Instead of enthusiasm for the recently launched app Horizon (the application dedicated to metaverse socializing), it faced many negative reactions and pressure. Most Horizon feedback was unfavorable, and users generally don’t return to the app after the first month.  

Internal documents demonstrated that the transition to the metaverse was struggling. There were uninterested consumers and a lack of understanding about what it would take to succeed. Analysts say that the company’s core apps, Facebook, Instagram, and WhatsApp, are largely neglected, while Meta poured $15 billion into its metaverse project.  

The Meta madness

These red flags didn’t stop Zuckerberg from his Meta madness and from making bad decisions. Even if the Horizon app wasn’t successful, Zuckerberg wasn’t too inspired in other ways either.  

He has carried out a whole chaotic revolution which users have not welcomed. They became confused, frustrated, and angry, and solutions to the problems didn’t come soon enough.  

Furthermore, Zuckerberg announced plans to launch NFTs, social tokens, and more, all while stock value was falling.  

All this leads to a situation where in October 2021, the company’s stock was $312.20, falling to just $114.20 in October 2022. 

Zuckerberg processed many updates to the advertising platform that have turned into bugs. The Facebook page management dashboard, modified too many times, turned out to have thousands of different appearances. Many functions have been moved, and the layout constantly changed, creating chaos and unhappy users.  

Neither was the rebranding of Facebook inspired. Facebook turned to Meta and directly referred to the metaverse that the company wants to build over the next 10-15 years. But Zuckerberg’s strong desire to introduce his currency was directly related to this rebranding. He was first banned from launching the Libra token because it was connected to Facebook. After the rebranding, Libra was renamed Diem at the end of December 2020 and wound down in January 2022. Another big failure.   

Final thoughts

Among the persistent complaints and bad results, Zuckerberg is going all in on the metaverse, but he should re-focus on other things. The CEO of Meta should concentrate on increasing engagement and revenue on the company’s primary apps.   

The numbers speak for themselves, and the 65% decrease in the company is no joke! 

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