Analysts predict that Meta's stock price will rise by more than 20% after cutting its metaverse business.

Analysts on Wall Street have generally responded positively to media reports of Meta's plan to cut its metaverse department. After the related reports were released, Meta's stock price rose by 5% on Thursday. The report cited sources as saying that company executives are considering cutting the department's budget by as much as 30%. The report suggested that layoffs could impact Meta's virtual reality department and are likely to be included. Analysts have welcomed this news, stating that it shows the company's financial discipline is still in effect and that Meta has ensured its continued focus on efficiency and growth.