Meta’s value cratered by more than $200 billion on Thursday, which would be the biggest one-day decline in market value for a U.S. company in history.
Tweet
- The quarterly earnings report said that daily Facebook users declined by about a half-million in the last three months of 2021, a prospect that immediately startled investors who fear that the social media giant’s reach has peaked.
- User losses were greatest in Latin America and Africa, which is a further sign that Facebook has reached peak global saturation, according to the Washington Post.
- Meta’s stock was valued at about $250 per share on Thursday morning — a precipitous drop from its Wednesday close of $323.
- “Although our direction is clear, it seems that our path ahead is not quite perfectly defined,” said Facebook CEO Mark Zuckerberg to investors Wednesday.
- Zuckerberg himself, who has helmed the company since its founding nearly two decades ago, lost about $24 billion of his net worth during the stock’s slump.
SOURCE: WASHINGTONEXAMINER
Political | Process 
Leave a comment