Meta CEO Zuckerberg's plan to cut spending on metaverse projects triggers stock gains
Meta CEO Mark Zuckerberg plans to cut spending on metaverse projects by up to 30%, expected to significantly reduce resources to build metaverse, involving Horizon Worlds and Quest devices, and potentially trigger layoffs. Following the announcement, Meta shares jumped nearly 5% to 6% premarket. The move reflects Meta's adjustment to its investment strategy in metaverse, which the market has reacted positively.