Mark Zuckerberg sold nearly half a billion dollars of Meta shares in the final two months of 2023 after a 2y hiatus in which the company’s stock price hit its lowest in seven years
The Meta CEO sold shares on every trading day between Nov. 1 and the end of the year, unloading nearly 1.28mln shares for ~$428mln. On average, each sale took in $10.4mln. Source: Bloomberg, HolgerZ
Meta’s ad rebound gets huge assist from China even though its services are banned there
Meta may be banned from operating in China, but the company is counting on advertisers there to boost its growth. Finance chief Susan Li told analysts on Wednesday’s earnings call that Chinese companies played a major role this quarter. Online commerce and gaming “benefited from spend among advertisers in China reaching customers in other markets,” Li said. Source: CNBC
The "X" war...
As highlighted by The Kobeissi letter, Meta currently owns the trademark for "X" in relation to "online social networking services." However, Microsoft owns the trademark "X" as it relates to online chat rooms and finance. Meanwhile, Twitter wants to make "X" into an everything social network with finance and banking. All while Twitter is suing Meta for copying Twitter... Source: Kobeissi letter