Meta shares surged nearly 12% on Sept. 21 local time, pushing founder Mark Zuckerberg’s estimated net worth to $253.6 billion, or about 1.70 trillion yuan. His wealth increased by $25 billion in a single day, equal to roughly 167.458 billion yuan. The stock move came after Wells Fargo raised its price target on Meta from $640 to $796 and kept its overweight rating ahead of the company’s Meta Connect event later this week. Investor confidence in the outlook for Muse, Meta’s personal AI assistant, also supported the rally. According to the report, Muse usage statistics are seen as a key metric to watch as the conference approaches. The move highlights how analyst target changes and product expectations can quickly feed into market pricing for major technology stocks.
Meta shares rose nearly 12% on Sept. 21 local time, according to ChainCatcher, lifting founder Mark Zuckerberg’s estimated net worth to $253.6 billion, or about 1.70 trillion yuan. His wealth increased by $25 billion in one day, equal to roughly 167.458 billion yuan.
The gain in Meta shares followed a price-target increase from Wells Fargo and investor confidence in the prospects for Muse, the company’s personal AI assistant.
Wells Fargo raised its target price on Meta to $796 from $640 on Sept. 21 local time and maintained an overweight rating ahead of the Meta Connect conference scheduled for later this week.
Muse usage statistics are viewed as a key metric to watch.
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