By Thyagaraju Adinarayan and Jan-Patrick Barnert | BloombergThe Facebook parent plunged 24% in U.S. trading Thursday on the back of poor earnings results, putting it on track to erase more than $200 billion.
“Lots of U.S. megacaps are priced as growth stocks. They may suffer more in a rising yield environment, especially if growth becomes more questionable,” said Frederic Rollin, senior investment advisor at Pictet Asset Management.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook parent Meta shares plummet 23% on ‘black eye’ earnings reportFacebook and Instagram parent company Meta saw its shares plummet to their lowest point in over a year on Wednesday after the company lowered its revenue forecast for the current quarter. Cheap real estate in Hawaii about to hit the market
Source: nypost - 🏆 91. / 67 Read more »
Meta Stock Plunges After Earnings Miss, Warns “Macroeconomic Challenges” to Impact Ad BizThe company formerly known as Facebook reported record revenues and users, but warned of choppiness as it shifts to the metaverse. Looks like the name change was a distraction. Perhaps the equivalent of adding .com to a company name 20 or more yrs ago.
Source: THR - 🏆 411. / 53 Read more »