Business
Morgan Stanley Downgrades Meta For First Time As Costs Soar
Morgan Stanley Downgrades Meta For First Time As Costs Soar
Shares of the Facebook parent were down 20% in premarket trading after it gave a disappointing quarterly revenue outlook.
(Bloomberg) -- Morgan Stanley cut its rating on Meta Platforms Inc. for the first time ever, forecasting the stock will lag until the social media giant’s “outsized investments” in the metaverse start to pay off. Continue Reading. Read more on Bloomberg by BloombergQuint.