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Meta Experience its Biggest Stock Market Value Drop

Published Sat, Feb 05 2022 12:19 pm
by The Silicon Trend

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Meta Experience its Biggest Stock Market Value Drop

Facebook's owner Meta, Inc., saw the biggest ever stock market slump by more than $230 billion on Thursday. After the investors' quarterly figures dismayed, the shares dropped down to 26.4 percent. First time in the history of 18-years, Facebook's daily active users had a drastic drop. According to the Bloomberg Billionaires Index, the CEO of Facebook - Mark Zuckerberg, net worth fell by $31 Billion. Even after the sinking, he has an estimated net worth of around $90 billion. Meta's stock market drops came on the eve of Facebook's founding anniversary day. 

 

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Sales Growth Rupture

Meta warned that the slowing of revenue growth in the competition from Tik Tok and YouTube, while adverts also cut down the spending time. The company said the sales growth of Meta had been ruptured as younger users had left for our company rivals. The firm predicts the first-quarter revenue to be between $27 and $29 billion - lower than expected.

Although the company had to stay in the competition, they had been investing in video services, but it made less than the traditional Instagram and Facebook feeds. Facebook make's money from adverts, yet the company changed its name to Meta, indicating the futuristic technology - Metaverse that is still not a thing.

Meta's share drop dragged down other social media platforms such as Twitter, Snap, and Pinterest during the regular trading sessions on Thursday. However, Snapchat's share increased by over 60%, to the surprise.

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