Meta, headed by Mark Zuckerberg, has lost 70% of its market value since its name was changed from Facebook to Mita, which angered the major investors from the waste of Zuckerberg’s money on the company’s money on the metaphors project, according to the report of the Financial Times.
And last week, after releasing a separate profit report, Meta shares fell by 24%, down to their lowest point in four years.
Wall Street analyst said that a catastrophic dead profit report said, while Zuckerberg said he intended to spend other billions on the metaphors project next year.
In just this year, Zuckerberg invested $ 15 billion in the initiative.
“If any other company does this, then you will have activists who write letters, and they suggest alternative lists for managers, and they demand change, but Mark heard very clearly what investors wanted, and despite this, he made his decision,” said the financial development official at “Alliance Bernstein” and one of Mita’s shareholders.
“In their meetings with Meta Executive Managers, investors voiced their unhappiness and dissatisfaction, and several of them recently spoke with Zuckerberg. But according to Tirney, the profit follow-up meetings increased rather than decreased people’s rage.”
He said: They spend 15 billion dollars annually on metaphors and they cannot give us any progress signs. Just a dream, really.
According to the Arab Portal of Technical News, a Meta spokeswoman stated to the FT newspaper: “We welcome the thoughts of our investors and contact with them often to ensure that we are aware of their perspectives of each of them.”
It is customary for public companies to hold meetings with senior shareholders after quarterly profit reports, but Zuckerberg’s strict control of the company means that it is mainly the right to completely against other shareholders when it comes to the future of the company.
Because the founder of Facebook owns 55% of the voting stock in the company, he can run it whatever he sees fit without having to worry too much about shareholder opposition.
Additionally, it includes a dual-category class structure that gives Zuckerberg, executives, and some managers the ability to cast a vote for or against something because each of their shares is worth ten votes, as opposed to just one for ordinary shareholders.
The metaphoric curse. The Zuckerberg Empire falls, and Meta’s value declines by 70%.
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