The Facebook plunged 26% in early U.S. trading on the back of poor earnings results, putting it on track to erase about $250 billion.
— Bloomberg Technology (@technology) February 3, 2022
This ranks as biggest Meta’s Platforms one day loss, and may rank as the worst in stock-market history!
JPMorgan Chase & Co.downgraded their rating of Meta (*Facebook) to neutral, after Meta reported disappointing growth.
Bloomberg finds that shares plummeted as much as 26%, putting it on track to erase about $250 billion in market value!
The biggest collapse in market value for any U.S. company, as markets have swung wildly in recent weeks
Meta faces stiff competition from rivals like Tiktok as well as Q 4 revenue were far lower than expected