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Meta Inventory Jumps 1 P.c After False Report Mark Zuckerberg Resigned

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Meta CEO Mark Zuckerberg most likely is not going wherever. However on Tuesday, his firm’s buyers thought he was, and Meta‘s inventory rose by 1%, reports the New York Submit.

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An outlet referred to as The Leak published a story early Tuesday through which an nameless supply mentioned Zuckerberg would exit in 2023 because of Meta’s revenue shortfall. “Data obtained by The Leak,” the article learn, “means that Zuckerberg has determined to step down himself. The choice, per our insider supply, ‘won’t have an effect on metaverse.'”

Meta’s inventory climbed 1.4% after the report was revealed.

The corporate’s Andy Stone tweeted a terse denial of the report: “That is false.”

Because the Submit famous, there are causes to imagine Zuckerberg could be reconsidering his place:

Meta shareholders have grown stressed in latest months as the corporate launched into a pricey shift towards metaverse expertise regardless of a significant revenue droop and financial headwinds. Meta’s inventory is down greater than 67% thus far this yr.

Earlier this month, Meta laid off 11,000 employees, or about 13% of its workforce, as a part of a significant cost-cutting push.

Zuckerberg is the dominant Meta shareholder, holding greater than half the shares. Given this substantial degree of energy and his dedication to the metaverse, it appears lower than possible there’s any fact to this information.

The Leak acknowledged Andy Stone’s denial however has not withdrawn its report.

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