Meta-formerly- Facebook investors are growing more and more upset at the company's CEO and founder.
Many see the controversial figurehead as the main obstacle to a bounce back from the stock crash, which has sunk even lower after its history-making drop earlier this year.
In total, Meta stock has fallen 72 percent in the last four years, with analysts largely agreeing that the drop is due to Facebook's failure to deliver on its Metaverse gamble, which resulted in him changing the company name.
While investors are up in arms about the direction the company is headed under the founder's direction, the company's financial structure makes it impossible to oust him. Disgruntled investors have only one option: sell, sell, sell.
The chief investment officer at Matrix Asset Advisors told the financial news outlet that he was tone deafness to what the owners of the company wanted. Better management could double the stock in a year.
The report states that Facebook has taken on an unfair voting rights structure. Class A is for the public to buy and sell, and Class B is not public. The majority of the Class B shares are owned by Facebook's founder.
As the company's stock craters, with recent analyses describing his wealth loss to the tune of $100 billion, it's no wonder that Facebook's founder has been hit financially as the company's stock plummets. He's willing to pay for control of his company's future.
With 20 percent more investors dropping their Meta shares, it's clear that they don't share his confidence and that there was nothing they could do to change the CEO's mind.
Stock analyst commentaries on television because he recommended Facebook stock.
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