The market correctly valued Meta a $380.

Then Meta announced they were going all in on the Metaverse, had set fire to $100bn so far and were going to continue to throw ~$20bn a year into the Metaverse - the market correctly valued Meta a $100.

Meta announded they were going all in on the Ai - the market correctly valued Meta at $315.

You have picked a poor example; the moves in the stock, are primarily the fault of themselves. Those that saw the emergence of Ai and Zuckerberg as one of the leaders in the space got a nice 3x. If it didnt happen, Meta stock would probably be worth about as much as MySpace.

fwiw I said they were going to zero when they rebranded to Meta. Turns out I was wrong.