Meta’s pivot from ‘irresponsible’ metaverse spending earns stock an upgrade

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Meta’s pivot from ‘irresponsible’ metaverse spending earns stock an upgrade
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Meta Platforms Inc.'s stock recently secured an upgrade from a Wall Street analyst who applauded the company's increased discipline.

Meta Platforms Inc.’s stock recently secured an upgrade from a Wall Street analyst who applauded the company’s increased discipline.

His... Meta Platforms Inc.’s stock recently secured an upgrade from a Wall Street analyst who applauded the company’s increased discipline. His upgrade comes after Meta announced last week that it planned to cut about 10,000 more jobs, building on the 11,000-plus layoffs disclosed last fall.“We had been concerned about the planned increase in expenses in 2023, much of which was earmarked for the company’s metaverse initiative,” he wrote. “We feltMore recently, however, the Facebook parent company has “announced efforts to reduce expenses, focus on efficiency and improve profitability,” Heger noted.

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