Does anyone understand why Meta is up 23% today? Did the cuts show an impact in Q4? I'd have assumed the initial cost of the severance would be significant.
https://finance.yahoo.com/quote/META?p=META&.tsrc=fin-srch
It's anybody's interpretation as to why it would trade higher. Raising buybacks to pre-2022 levels, in conjunction with rising ad impressions and reducing opex are all positive factors.
Q4 showed that their business is actually still working and company is making necessary changes, so they recovered to be roughly in line with big tech peers.