NEW YORK (Reuters) – Short sellers in Meta Platforms Inc were poised to increase their 2022 gains with the stock’s plunge on Thursday after the Facebook owner’s weak forecast.
With the stock down 22.3% to $247.75 in pre-market trading on Thursday, short sellers were up $1.72 billion in mark-to-market profits, according to financial and analytics firm S3 Partners. That increased such short-seller profits to $2.14 billion for 2022, according to S3.
Shares of the owner of Facebook and Instagram were last down even more steeply in Thursday morning trade, last off 23.9% to $245.80.
(Reporting by Lewis Krauskopf; Editing by Chizu Nomiyama)
