CNBC's Jim Cramer was overcome with emotion as he apologized for being wrong about Facebook's parent company, Meta.

Meta stock over the past month has plunged as it was $138.61 on Oct. 3, the first day of trading this month, to just over $98 on Thursday. The company's revenue decreased in the third quarter.

In June, Cramer encouraged viewers to buy Meta stock. However, during Thursday's Squawk on the Street, Cramer broke down.

"I made a mistake here. I was wrong. I trusted this management team. That was ill-advised. The hubris here is extraordinary and I apologize," he said.

"Okay," responded co-host David Faber.