Facebook shares tank as it pivots towards unproven metaverse strategy

Despite a 20% Q4 revenue hike, stock in tech giant Meta/Facebook dropped 20% amid negative outlook for the next quarter.
Meta posted $33.67 billion in revenue for Q4 2021, up 20% year-on-year. This would be a win were it not for the fact it has spent a significant amount of money this year investing in new business units, particularly around the metaverse. Total overheads were $21 billion, up from $15 billion the previous year – a 29% increase.
This meant net income was $10,285 billion com