Sales slump at Facebook parent Meta, stock tumbles

The report from Meta arrives a day after Microsoft and Google-parent Alphabet announced lackluster quarterly earnings. To put META’s market carnage in perspective, before Monday’s jump, shares had lost 76% of their value since hitting an all-time closing high of $382.18 on Sept. 7, 2021. META’s market capitalization, which peaked at $1.08 trillion Facebook stock not so long ago, is down to about $250 billion. Apart from the fact that this is crushing news for the folks losing their livelihoods, the uptick in META’s stock doesn’t amount to much in the wider scope of things. Not when you consider that Mark Zuckerberg’s company is suffering one of the more epic share-price meltdowns in recent memory.

  • In addition, we could hear many rumours from the media about the internal situation of the company or the perspective of employees.
  • TipRanks is a comprehensive investing tool that allows private investors and day traders to see the measured performance of anyone who provides financial advice.
  • This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 .
  • That gives it enormous leverage across its extant businesses, and a huge leg up as it moves to building out the metaverse.
  • Market participants will pay attention to the Q3 earnings reports of big retailers.

The stock plunged over 20% on Thursday and is down approximately 70% year to date. As of the time of publication, real-time tracking by Forbes shows that Zuckerberg’s net worth has slipped to $37.1 billion, pushing him back to the 26th spot on the outlet’s billionaire’s list. MarketBeat has tracked 10 reddit mentions for Meta Platforms this week, compared to 7 mentions on an average week. Meta Platforms does not have a long track record of dividend growth. Short interest in Meta Platforms has recently increased by 36.57%, indicating that investor sentiment is decreasing significantly.

Facebook’s historic stock drop spurs market slide. What’s that mean for your 401(k)

“The worry for Meta is that this pain is likely to continue into 2023 as cost headwinds remain a real challenge and the strong dollar impacts on overseas earnings,” said Ben Barringer, equity research analyst at Quilter Cheviot. The Facebook parent company beat estimates for quarterly revenue, which fell 4 percent to $27.7bn in the third quarter that ended September 30, from $29bn last year.

[…] Meta shares have declined 55% over the past 18 months (compared to an average of 19% for its big-tech counterparts). The P / E ratio fell from 23x to 12x and is currently Forex news half the average P / E ratio of peers. Importantly, this decline in stock prices reflects lost confidence in the company, not just bad sentiment in the market.

META Company Calendar

One share of META stock can currently be purchased for approximately $117.08. 13.59% of the stock of Meta Platforms is held by insiders. A high percentage of insider ownership can be a sign of company health. 457 people have added Meta Platforms to their MarketBeat watchlist in the last 30 days. This is an increase of 308% compared to the previous 30 days. 761 people have searched for META on MarketBeat in the last 30 days.

That process could be accelerated significantly if the U.S. government finally bans TikTok over its ties to the Chinese government. ByteDance’s TikTok lured users and advertisers away from Facebook and Instagram; and 3. The macroeconomic headwinds disrupted the growth of the broader advertising market. WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Meta shares rose 7.5% Wednesday after the company said it will lay off over 11,000 workers. Between Meta and Twitter there’s going to be a lot of quality coders on Fiverr for the next few months. Now we gonna talk about the main reasons why the 1 trillion company fall to 270 billion capitalization.

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