$META (Meta Platforms Inc) dropped as much as 19.4% on after-hours during their earnings call. This is despite an earnings beat across the board. Wall Street got spooked about their aggressive AI investment plans.
This follows the unintuitive moves we're seeing on other assets during this earnings season (e.g., $NFLX (Netflix, Inc.) dropping despite an earnings beat and $TSLA (Tesla Motors, Inc.) surging despite an earnings miss).
Will be an interesting couple of weeks with the rest of the earnings calls coming up 🧐
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