Meta Stock Jumps 1 Percent After False Report Mark Zuckerberg Resigned

Contributors' opinions are their own.

The CEO of Meta probably isn't leaving. According to the New York Post, his company's investors thought he was and his stock went up.

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According to a story published by The Leak early Tuesday, an anonymous source said that Facebook's founder would leave in three years due to the company's poor profit. According to the article, information obtained by The Leak suggests that Facebook's founder has decided to step down himself. Our source says the decision won't affect metaverse.

After the report was published, Meta's stock increased in value.

This is false.

— Andy Stone (@andymstone) November 22, 2022

Andy Stone denied the report on his account.

There are reasons to believe that he might be rethinking his stance.

Meta shareholders have grown restless in recent months as the company embarked on a costly shift toward metaverse technology despite a major profit slump and economic headwinds. Meta's stock is down more than 67% so far this year.

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

More than half of Meta's shares are held by Facebook's founder and CEO. It seems less than likely that there's any truth to this news since he has a lot of power.

The leak acknowledged Andy Stone's denial, but did not withdraw its report.

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