Wall Street RegretsThe regret calculator.
META · October 2022

Meta at −76%: $1,000 while the metaverse was a punchline

By late October 2022, Meta had fallen roughly three quarters from its 2021 high. The narrative was everywhere: ads were broken, TikTok had won, and the metaverse was burning ten billion dollars a year for a legless avatar demo.

$1,000 at the October 2022 month-end close, held to 2026-10: $7,619 (+661.9%). The same $1,000 in an S&P 500 index fund (TSP C Fund) became $2,086 through September 2026, the latest month the fund has reported; the META stake was worth $7,789 at that month-end. The fund figure includes reinvested dividends; the stock figure does not, so the comparison favors the fund. The fund's monthly returns are published at tsp.gov.

$1,000 at the bottom$7,619Price return+661.9%S&P 500 fund, to 2026-09$2,086

Nothing about the business had to be argued at that price. The "year of efficiency" did the arguing later. The hard part, as usual, was buying the most-mocked large company in the market.

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