Feb 13, 2023

Meta’s after-hours stock price rockets after Zuckerberg announces plans to trim middle management layers

Posted by in category: futurism

Meta Platforms Inc.’s shares soared more than 20%, on track for their biggest gain in 10 years, after Chief Executive Officer Mark Zuckerberg announced plans to make the social media giant leaner, more efficient and more decisive.

The stock rose in trading after New York markets closed on Wednesday. If the gains hold, the move would be the biggest intraday jump since July 2013. Meta is the best performer in the S&P 500 Index since the stock’s recent November 3 closing low of $88.91, and is poised to more than double in value since then.

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