Investors punish Mark Zuckerberg as costly metaverse pitch falls flat

Wall Street is losing patience over Meta boss Mark Zuckerberg’s enormous and experimental bets on his metaverse project that helped drive up the company’s overall costs by a fifth in the third quarter.

Investors rushed to dump Meta Platforms Inc’s stock after hours, pushing it down 20% and wiping $67 billion off its market value after the company posted its fourth straight decline in quarterly profit.