Meta Stock Slows as Muse AI User Growth Declines
Meta Platforms Incorporated saw a stock surge after launching the Muse AI agent, but recent data indicates a sharp drop in new user additions.
The stock price of Meta Platforms Incorporated rose 27% over 12 sessions following the September 8 launch of Muse, an AI agent designed to manage financial accounts and book trips. The stock reached a peak of $777.59 as investors shifted their focus from capital expenditure concerns toward the product's total addressable market.
Recent data from TickerTrends, reported by Hunterbrook Media, indicates a significant slowdown in the product's momentum. Muse downloads decreased by 8.1% week over week, while daily net user additions dropped 62.4% compared to the initial surge in September.
Hunterbrook Media's affiliated fund has disclosed a short position on Meta stock. Meanwhile, Morgan Stanley has analyzed the costs associated with providing the AI agent as a free service.
