Meta's Metaverse Vision Faces Major Strategic Retreat, Reality Labs to Lay Off Over 1,000 People

According to market data from BIT (Bit.com), Meta’s US pre-market stock fell by more than 4%. The company announced the launch of a $22.5 billion Class A common stock offering and a 250 million share preferred stock depositary share offering, which pressured its pre-market price.

Historical data from 1950 to 2025 reveals the S&P 500 index has distinct monthly seasonality: November leads all months with an average gain of 1.9%, while September is the poorest performer, posting an average decline of 0.6%. The data shows most months for U.S. stocks deliver positive long-term average returns, with year-end trends generally stronger. Furthermore, the historical outperformance of November and December is evident in both average returns and median results, indicating a certain level of stability in this seasonal pattern. However, past performance does not guarantee future outcomes.

According to market data from BIT (Bit.com), Meta's pre-market decline has narrowed rapidly, now down 0.5% after previously sliding nearly 4%. Meta Platforms (META.O) earlier announced the launch of a $22.5 billion Class A common stock offering and a 250 million share preferred stock depositary share offering. The company plans to launch a $60 billion at-the-market (ATM) offering for its Class C common stock in the first quarter of 2027. It noted that artificial intelligence is creating significant opportunities across its core business, new products and services. Its 2026 capital expenditure is projected to be between $135 billion and $145 billion, with the lower end of the range raised by $5 billion.

Barclays has raised Tesla’s 12-month target price from $370 to $450, upgrading its stock rating from Equal Weight to Overweight, with the new target representing a roughly 21.6% increase from the prior level. The U.S. bank’s analysts noted that Tesla’s improved growth outlook for its core auto business, emerging inflection signs in its Robotaxi segment, and strong demand for energy storage services are all expected to support the company’s valuation. Additionally, expectations of a potential merger between Tesla and SpaceX could also bring a valuation premium, though there remains uncertainty over whether the two entities will ultimately combine. According to market data from BIT (Bit.com), Tesla (TSLA.O) rose nearly 2% in pre-market trading, likely driven by this news.

Beating AI News: ByteDance today launched "Jimu Short Drama Studio", a platform integrating screenwriting, character design, storyboarding, video generation and post-production. Its screenplay model DreamScript supports parsing 100,000-word full-length novels, generating up to 100 consecutive episodes of scripts, and checking plot conflicts and character settings. The storyboard model DreamShot offers a 3D director console, enabling users to adjust camera positions and movements in advance and preview shooting effects. Characters, costumes and scenes from scripts are automatically organized into a material library for reuse in subsequent shots; unsatisfactory shots can be re-shot individually after generation. The feature most suited for short dramas going global is "Remake & Redraw": users upload a completed short drama, and the AI will break down characters, scenes, props and shots, then regenerate visuals based on the target region, art style and aspect ratio, while preserving the original plot rhythm and shot language as much as possible — essentially creating an overseas version by re-filming the original footage. Many of these functions are derived from ByteDance's subsidiary Xiaoyunque. The latter launched its short drama agent in March this year, and rolled out the "Remake & Redraw" feature in August. On October 24, 36Kr reported that Xiaoyunque has been integrated into Jimu, while retaining its independent entry point.

Bernstein raises SpaceX (SPCX.O) price target from $248 to $268. (Jinshi)