Meta slides despite strong Q3; $50B wipeout looms
Meta Platforms Inc shares fell by 3.03% to $676.36 despite reporting stronger-than-expected quarterly revenue and forecasting higher fourth-quarter sales. Investors are concerned about the costs of its AI expansion, which could lead to a $50 billion market value loss. The company plans to appeal a $25 billion penalty from a data-privacy case linked to Cambridge Analytica.