On September 21 local time, Meta’s share price surged by nearly 12%, with founder Mark Zuckerberg’s net worth estimated at $253.6 billion, equivalent to about RMB 1.70 trillion; the single-day increase was $25 billion, about RMB 167.458 billion—gaining a mid-sized listed company’s market value in just one day.

The real driving force isn’t advertising, but a new app. According to Sensor Tower data, Meta Muse launched on September 8; within just five days of going live, its download count surpassed ChatGPT, becoming the highest-downloaded free app on the U.S. iOS platform. As of Monday this week, cumulative downloads have exceeded 2.5 million.

The logic of the capital markets is straightforward: whoever captures the next traffic gateway gets the ticket to a valuation reappraisal. But the first month’s buzz for new apps is always a double-edged sword—ranking first on the download chart is just the entrance ticket; retention and monetization are the real endgame exam. For investors, what drives the stock price is always expectations, not the inherent quality of the product itself.