NEW YORK :Short sellers in Meta Platforms Inc were poised to increase their potential 2022 gains to more than $2 billion with the stock's plunge on Thursday after the Facebook owner's weak forecast.
As trading officially opened on Thursday, shares of the owner of Facebook and Instagram were last down even more steeply in morning trade, last off 23.9per cent to $245.94, likely increasing those potential profits for short sellers. Facebook short interest stood at $7.76 billion, or just over 1per cent of the company's floated shares, according to S3.
Source: News Formal (newsformal.com)
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