The Thrill Is Gone & Time To Move On: Zuckerberg's Facebook Empire Collapsing

[G.L.R.]

Zuckerberg's Facebook empire collapsing     

18 Feb, 2022



Meta has lost nearly half its value in the last six months

Once  the world's sixth largest firm with a valuation of over $1 trillion,  Facebook's parent company Meta finished Thursday's trading with a value  of $565 billion. According to data compiled by Bloomberg, the social  media giant has tumbled out of the world's 10 largest companies by  market value, hammered by its worst monthly stock decline ever. The  stock rout has placed Mark Zuckerberg's company in 11th place behind  Chinese Tencent Holdings. Chip giant Taiwan Semiconductor Manufacturing  Company (TSMC) holds the ninth spot...

Facebook offered nothing to make life simpler or easier for anyone. Nothing to see here folks.

Data shows that the value wiped out by the selloff in Meta's shares exceeds the market caps of all but eight companies in the S&P 500 Index. Meta's share price is down about 40% year-to-date after the company reported two weeks ago that its social media platform Facebook lost about one million users from the third quarter to the fourth quarter of 2021. That's the first such decline for the company in its 18-year history. Meta's stock plummeted 26.4% on February 3 after  the company released its weaker-than-expected outlook.

A big media circus. Zuckerberg used his money to influence the 2020 election.

The $240 billion  loss in market capitalization was the largest one-day loss in US  corporate history. CEO Mark Zuckerberg's personal net worth is down more  than $46 billion from the beginning of the year, he's currently worth  $78.8 billion. Since then, Meta's share price has extended losses,  losing another 13% to date. The company has warned that the rest of the  year is shaping up to be a choppy one as it deals with "macroeconomic challenges" and continues its long-term strategic shift "towards building the metaverse.

Zuckerberg's Facebook empire collapsing — RT Business News
https://www.rt.com/business/549803-zuckerberg-facebook-empire-collapsing