The Meta meltdown: This chart shows Facebook's fall from grace among the most valuable U.S. companies

After a 9.4% daily slide in its stock, Meta META, -9.37% ranked 10th by market value as of Tuesday’s close, falling below Visa Inc. V, -3.37% for the first time since the start of August. Meta, the parent company of Facebook and Instagram, ranked fifth among U.S. companies as recently as December, according to Dow Jones Market Data, and joined the four other Big Tech companies — Apple Inc. AAPL, -5.87%, Microsoft Corp. MSFT, -5.50%, Google parent Alphabet Inc. GOOGL, -5.90% GOOG, -5.

Meta’s stock suffered its sharpest daily decline since February in Tuesday’s trading amid broad-market pressure brought on by the latest consumer-price-index reading, which resurfaced fears about the potential effects of inflation on the advertising landscape. Chief Executive Mark Zuckerberg said on that July call that “we seem to have entered an economic downturn that will have a broad impact on the digital advertising business.”

Great, take it down to 0

goldenboypierre 9% clap, oooof

Maybe don’t help the FBI rig elections. You get what you vote for.

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.

Meta Dredges Sensitive Data for Over 100 Rival Companies While Still Claiming It Isn't a MonopolyThe FTC’s lawsuit against Meta accused the company of being anticompetitive, but the social company says it needs rivals’ data to prove it isn’t a monopoly.
Source: Gizmodo - 🏆 556. / 51 Read more »