Meta shares fall 7% after FT reports possible stock offering
Meta stock extended losses to 7% on the day after the Financial Times reported the company is considering a stock offering to raise capital, erasing $115 billion in market cap.
Meta (META) shares tumbled 7% on Tuesday after the Financial Times reported that the company is considering a stock offering to raise capital. The move erased approximately $115 billion from the company's market capitalization.
The report, citing sources familiar with the matter, suggests Meta is exploring a capital raise through a stock offering, which would dilute existing shareholders. The news adds to recent pressure on the stock, which has been volatile amid broader tech sector weakness.
No official confirmation from Meta has been issued, and the company has not commented on the report.
Source: The Kobeissi Letter