Meta Platforms (META) shares fell about 6% on Thursday as investors grew anxious over negative cash flow from heavy AI-related capital spending. In the quarter, free cash flow turned negative at $2.12 billion, and the company raised the floor of its full-year capex forecast from $130 billion to between $135 billion and $145 billion. The cost of insuring against default on Meta's five-year credit default swaps hit an all-time high, and the company announced a new nonvoting Class C stock to preserve founder-led governance. Filings show CEO Mark Zuckerberg had considered leaving California if a proposed wealth tax passed, but he said he will stay in the state after the new stock class is implemented. On Stocktwits, retail sentiment was bullish, retail chatter rose about 400%, and the stock is down about 2% year to date.
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Related tickers and likely impact
META
▼ Likely negativeMeta Platforms
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 698.43 |
| Change that session | +0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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