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Facebook’s parent company, Meta, suffered a violent plunge on Thursday on the New York Stock Exchange, setting the biggest single-day drop in history on Wall Street for an American company.
The famous social network Facebook announced that it has lost users in North America for the first time in its history, and was blaming Wednesday, after the close, for a falling profit in the fourth quarter and a slowed growth outlook in the first. Indeed, its quarterly earnings were down 8% year over year. The stock of Meta Platforms, parent company of Facebook, tumbled 24% to 245 dollars, dragging the Nasdaq index (-2.14%) in its fall.
The fortune of Facebook’s CEO, Mark Zuckerberg, estimated at $113 billion at the close yesterday according to SEC documents, was also severely cut: he lost virtually $28 billion.
The cause? Competition from TikTok, iOS restrictions on user tracking, or the monetization of Instagram’s Reals in half… The factors of this fall are multiple. Aware of these risks, not to mention the threats of regulation from the U.S. authorities, Mark Zuckerberg has tried a gamble: bet everything on the metaverse, which he considers the future of the Internet, where virtual reality (VR) headsets and augmented reality (AR) glasses will replace the screens of our computers and our smartphones, for an ultra-immersive Web. A bet that is waiting to bear fruit.
From this event results that for the first time since 2015, the leader is out of the top 10 of the Forbes ranking of the richest people. With an estimated fortune of $ 85 billion, he currently evolves in 12th position, just ahead of the Bettencourt family, and far behind Elon Musk.
Read also > FACEBOOK OUTAGE CAUSES SHARE PRICE TO FALL
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Facebook’s parent company, Meta, suffered a violent plunge on Thursday on the New York Stock Exchange, setting the biggest single-day drop in history on Wall Street for an American company.
The famous social network Facebook announced that it has lost users in North America for the first time in its history, and was blaming Wednesday, after the close, for a falling profit in the fourth quarter and a slowed growth outlook in the first. Indeed, its quarterly earnings were down 8% year over year. The stock of Meta Platforms, parent company of Facebook, tumbled 24% to 245 dollars, dragging the Nasdaq index (-2.14%) in its fall.
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Facebook’s parent company, Meta, suffered a violent plunge on Thursday on the New York Stock Exchange, setting the biggest single-day drop in history on Wall Street for an American company.
The famous social network Facebook announced that it has lost users in North America for the first time in its history, and was blaming Wednesday, after the close, for a falling profit in the fourth quarter and a slowed growth outlook in the first. Indeed, its quarterly earnings were down 8% year over year. The stock of Meta Platforms, parent company of Facebook, tumbled 24% to 245 dollars, dragging the Nasdaq index (-2.14%) in its fall.
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