Advisor on Meta meltdown: 'They'll figure out a way to turn that around'

STORY: U.S. technology stocks widened losses on Thursday as shares of Meta Platforms lost a quarter of its value after the Facebook parent's costly metaverse bets and the impact of soaring inflation on ad spending spooked investors.

But Belanger said the longer-term outlook for Meta wasn't as dour as the share plunge suggested.

"If you're a long-term investor, you've got to be liking this opportunity to buy into some of these really good businesses," said Belanger. "You've just got to grind through this period in the cycle."

Meta was set to lose about $78 billion in market value, if losses hold to the end of the session.

Meta has lost more than half a trillion dollars in market value so far this year. Its shares were trading at $100.55, their lowest since February 2016.