Why Meta Platforms Stock Plummeted by Over 5% on Wednesday
According to a media report, the leader of its internal AI initiative is leaving the company.
Overview
A top executive overseeing an important business unit of Meta Platforms (NASDAQ: META) is departing the company, and investors weren't happy about it. Combined with general bearishness on the tech sector generally, this resulted in the social media giant's stock losing more than 5% of its value during Wednesday's trading session.
Reuters, citing an internal Meta document it had seen, reported that one of its key executives in the effort to implement artificial intelligence (AI) is leaving her employer.
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Originally published at www.fool.com.
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