Hedge Funds

Short-sellers make billions in Meta’s stock plunge

Meta has become the second most profitable short bet of 2022, new data suggests

Friday 4 November 2022 at 00:01

Boss Mark Zuckerberg is betting big on the metaverse, but investors aren't convinced
Boss Mark Zuckerberg is betting big on the metaverse, but investors aren't convinced Photo: Getty Images

Meta’s stock plunge on 26 October was a golden moment for short-sellers, who netted over $1bn in just two days, according to data from S3 Partners.

Short profits on Meta shares passed $6bn in October, a separate report by ORTEX Analytics shows, after the social media company posted a 52% fall in profits for the third quarter.