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January 1, Facebook Suffers Biggest One-day Drop in Market History
Facebook’s parent company Meta set a record for the biggest one-day drop in the history of the U.S. stock market, with more than $232 billion in value lost.
The drop was largely driven by a quarterly earnings report that found the company was hemorrhaging daily users for the first time in its history. CEO Mark Zuckerberg personally lost about $24 billion.
Daily Facebook users declined by roughly half a million in the last three months of 2021, leading many investors to believe that the social media giant may have peaked.
The previous record-holder for the largest one-day drop in valuation was Apple which lost $182 billion in market value in September 2020.
Source:
Facebook’s $232 billion fall sets record for largest one-day value drop in stock market history
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Fantastic , take that ya bunch gerberas.
I closed my FaceBook account over two years ago and can’t understand why anyone would want to keep theirs open. People’s accounts are constantly hacked, they are limited on what they can post if FaceBook disagrees with their politics. Not to mention that little worm’s face (Mark Zuckerberg) that appears every time they print news about FaceBook.