META Stock Surges 5% After 30% Metaverse Budget Cut

Meta Platforms Inc. (NASDAQ: META) has announced a 30% budget cut for its metaverse initiatives by 2026.

This decision follows heavy financial losses, with over $60 billion spent on metaverse activities and a $4.5 billion loss reported in Q2 2024.
The announcement led to a 5% surge in META's stock price at the US market opening, though it later settled at around 3.5% gains.
META traded at $666.28, closing at $639.60 previously, with a day range high of $676.10.

Meta Platforms Inc. (NASDAQ: META) 5D price chart, as of December 4, 2025 | Source: Google Finance

Impact on the Metaverse Narrative:

The strategy shift could affect the crypto market, particularly projects focused on the metaverse.
Many such projects have seen significant declines in market value over the past three years.
The decision might indicate the end of the metaverse narrative's viability.

Speculation persists about potential rebranding efforts from the company, but no confirmation is available.