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Meta Strategy Adjustment: Is It Time to Bottom Fish?

On December 4, Meta CEO Zuckerberg announced plans to cut the budget for the metaverse project by up to 30%. Following this news, Meta's stock price surged over 4% at one point, hitting a near one-month high. Previously, due to aggressive capital expenditure revealed in its earnings report, Meta had fallen nearly 20%. How do you assess Meta’s current valuation? Is now a good time to buy the dip?
On December 4, Meta CEO Zuckerberg announced plans to cut the budget for the metaverse project by up to 30%. Following this news, Meta's stock price surged over 4% at one point, hitting a near one-month high. Previously, due to aggressive capital expenditure revealed in its earnings report, Meta had fallen nearly 20%. How do you assess Meta’s current valuation? Is now a good time to buy the dip?
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