Why is Mark Zuckerberg's Metaverse failing?

Since Zuckerberg announced Facebook’s rebrand to Meta and its big bet on the Metaverse last year, Meta’s value has tanked. The company’s stock price dropped more than 70% in less than a year, with shares plummeting 23% after the company missed its earnings targets. After dropping out of the top 20 most valuable U.S. companies, Meta is now worth less than Home Depot.