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 recent surge follows a report from Bloomberg that the company plans to scale back its metaverse efforts, with executives set to slash budgets in that part of the business by 30%, according to the report. When the company changed its name