Shares of current social media giant and future metaverse play Meta Platforms (NASDAQ: META) suffered a glitch Friday, falling 4.6% through 11:50 a.m. ET. Specifically, tech publication The Information is reporting this morning that Meta has canceled its planned smartwatch, is limiting marketing of "Portal" display devices to businesses, and is postponing a planned release of augmented reality "Project Navare" glasses past 2024. It's part of the reason Meta is spending $20 billion in capital investments this year, and plans to spend nearly $25 billion next year. Read More...
Shares of current social media giant and future metaverse play Meta Platforms (NASDAQ: META) suffered a glitch Friday, falling 4.6% through 11:50 a.m. ET. Specifically, tech publication The Information is reporting this morning that Meta has canceled its planned smartwatch, is limiting marketing of “Portal” display devices to businesses, and is postponing a planned release of augmented reality “Project Navare” glasses past 2024. It’s part of the reason Meta is spending $20 billion in capital investments this year, and plans to spend nearly $25 billion next year.
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