Is Meta (FB) horribly mismanaged?

FB main business of Apps include FB, IG, Messenger and WhatsApp. That's their business and it's been very profitable. But instead of building on this core, they announced a new focus called the Metaverse and even changed the company name too Meta.

Meanwhile, they repurchased shares at all time high levels for $19B!

DO you think they are horribly mismanaged?


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