Combine this all, and Meta shares have sunk 30% since September, a point when they had been at record highs. Meta on Wednesday said it expects to lose $10 billion in annual revenue from the switch. 'We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow,' said Mark Zuckerberg, Meta founder and CEO. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2021. Another complication: Apple’s change to its iPhone software, which has made it harder for companies like Meta to sell digital advertising. 2, 2022 /PRNewswire/ - Meta Platforms, Inc. In addition to the metaverse and growth concerns, a whistle-blower scandal enveloped the company last fall, prompting fresh questions about its handling of bad content on its site-and about Zuckerberg’s leadership. ever, likely only behind a $33 billion tumble for Elon Musk last year. 12 at the moment.) The plummet in his fortune is one of the largest single-day losses for any billionaire. With the drop, Zuckerberg no longer ranks among the ten richest people in the world. It’s not great either for Facebook cofounders Dustin Moskovitz (down $3.9 billion Thursday) and Eduardo Saverin ($4.2 billion), who have moved on from Facebook but retain significant stakes in the business. What is Meta’s share price today After Meta stock closed at 323 per share on Wednesday night, Meta shares fell to 239.05 in a 26 fall on the previous 24 hours as of 9.37am EST and 2.37pm GMT. Which is bad for Zuckerberg personally the majority of his net worth is centered in Meta stock. The price of shares in Meta the parent company of Facebook, WhatsApp, Instagram, and Meta Quest (fka Oculus) dropped more than 25 percent at the start of trading on Thursday, after it. CNN Sans ™ & © 2016 Cable News Network.Zuckerberg and Meta have experienced a miserable few months, and despite many years of scandal and a Teflon stock, the weight of all that is coming down on the shares. Market holidays and trading hours provided by Copp Clark Limited. ![]() All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. In a matter of seconds, a quarter trillion dollars of. It also makes Meta the worst-performing stock in the S&P 500 this year. As you probably know, Meta Platforms (NASDAQ: FB) suffered the worst dollar loss of any equity in human history last week. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. Facebook parent Meta's stock fell more than 26 on Thursday after disappointing fourth-quarter earnings and a drop in daily users underscored how much the company relies on social. Meta's loss in market value is more than what 99 of the companies in the S&P 500 are individually worth. Meta's 26.4 stock slump Thursday left it valued at 661.4 billion compared with its 898.5 billion market capitalization when Wall Street closed Wednesday a loss of 237.1 billion. ![]() US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account
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