https://apnews.com/d01a0a4c12dc24fa2150a1a3ea2ac836

Meta, the company that owns Facebook, Instagram and WhatsApp, saw its stock plunge after-hours Wednesday after unexpectedly heavy spending on its “metaverse” project led to a rare decline in its fourth quarter profit.

Meta’s shares fell 22.6% to $249.90 in after-hours trading. If the drop holds until the market opens Thursday, the company's market capitalization — its overall value — is on track to drop by nearly $200 billion.