Why Did Facebook Stock Drop? Mark Zuckerberg’s Net Worth: As meta loses $200+ billion in its market value as plummets facebook market value. what is the reason behind it? let us lake the attention on the full matter given below. On February 3, as the parent company of Facebook, Meta went lost its $200+ billion in market value as its effect could be seen immediately on Facebook’s market value. AS Meta’s stocks dropped down 26 percent on its immediate effect Mata lost over $230 billion fo their market value. The stock share get down 85 points and stopped at $237 from around $323 on the previous day. Follow More Update On GetIndiaNews.com
Why Did Facebook Stock Drop?
Thursday’s stock decline was most affected by Facebook’s market value. The stock plummeting effect could be seen on Facebook’s share value. Mark Zuckerburg’s net worth to down by almost $30 billion. Mata’s market capitalization reportedly get down to $660 billion.
Why did Facebook/Meta’s stock drop together? what was the reason behind it?
As per Refinitiv, analysts expected the firm’s revenue to be around $30.15 billion in the next quarter. but Meta’s internal projections cited $27 billion to $29 billion in revenue for Q1. but it went totally different as per analysts. it affected the meta’s overall profitability for this whole year.
Meta CFO David Wehner said on the situation that Apple’s privacy changes to iOS, macroeconomic challenges faced by advertisers, and foreign currency exchange rates were factors that affected their revenue forecasts.
Effect on Facebook’s daily user
Facebook recorded a quick fall in its users, it went down from 1.93 billion in Q3 2021 to 1.929 billion.
Why did Facebook face controversy last year?
The previous year, Whistleblower Frances Haugen leaked facebook’s internal documents and she spoke to the US Senate. Whistleblower took a claim on Facebook that, the social media’s algorithm specifically targeted content that provoked anger among some users.
What did she say in her given interview?
“Facebook has realized that if they change the algorithm to be safer, people will spend less time on the site, they’ll click on fewer ads, they’ll make less money”,
How is Meta related to Facebook?
On October 28 2021 facebook’s CEO Markzukerburg announced that the company Facebook will be known as Meta. The company is changing its name from Facebook to Meta. Meta will still have Facebook, Instagram, WhatsApp, and Oculus VR would be under its control.
Meta stands for the Greek word ‘after’ or ‘beyond’. The overall Facebook will now be called Meta. in its interview at Connect 2021 conference company announced the Facebook app will retain its name and there’s no change for other apps. with this new charge, facebook is called Meta.