Investors are cheering Meta's latest cost-cutting move. The social media giant is reportedly gearing up to slash spending in its metaverse unit. Despite betting big on the concept a few years ago, the metaverse has been a money loser for Meta. The move: Meta Platforms stock spiked on Thursday, with the social media company seeing $69 billion added to its market cap, bringing its total value to$1.68 trillion. The stock rose as much as 4%, and is up 13% year-to-date. The chart: Why: The stock's most ...