Meta's tumble in share price on Thursday was the market's reaction to news that a slowdown in digital advertising, new security protocols on Apple devices and a bet on the metaverse have all hurt the Facebook parent's bottom line. In particular, investors have criticized Meta CEO Mark Zuckerberg, seen here, for spending big on the metaverse.Michael Nagle/Bloomberg via Getty Images
At market close on Thursday, shares in the tech company had fallen nearly 25%, selling for under $98 apiece, a level not seen since 2016.. It's now worth around $270 billion, roughly a third of its market capitalization of just under $900 billion a year ago. "I think that our work here is going to be of historic importance and create the foundation for an entirely new way that we will interact with each other and blend technology into our lives," Zuckerberg said on a call with investors Wednesday.
What do you expect when you sink butt loads of money into a VR gimmick where you can’t even have legs
what the zuck? facebook facepalm 😂
Meta is crap. Full of ads, loosing subscribers, and a strange focus on the virtual world…that doesn’t exist yet, except in minute quantity. Fb sucks. If I didn’t have so many connections and my employer would stop using it as a primary communication tool, I’d delete it entirely.
Take that massive tax payer!
Everyone is over the user data tracking and advertising blitz.
LMFAO wtf?
VR headsets turning people into hunchbacks.
Isolated rich people who think they have the best idea.
Make it go zero!!
good.
Let's think about it. They screw around with pages making them harder and harder to use without warning most the time. They freeze accounts and no one can figure out why. And then they have no customer service to help you straighten out their messes.
FB is trash.
Oh wow, Facebook still exists
So still mega rich. Got it.
Man, you can cut the FAFO this week with a knife.
Boo hoo
Lol, so this definitely means that Twitter is next, lol
Good.
Meta ban users over silly things...lose users. Duh.
_MAArgentino When there’s no one left to say no to dear leader. Politics and corp dynamics aren’t so different.
Well boo hoo hoo
Following in Disney's footprint. Get woke go broke. defendnpr
Disgusted. Seeing how much it’s worth, and it’s loss of value. Boo hoo!
If only MZ would just go flat broke and go away. No hope of that.
It wasn't really great timing for him to try new things with his company like virtual reality. The world is falling apart. I think virtual reality is an excess that people can only really get attached to when their necessities are taken care of. So like maybe in a hundred years.
ofchus Proud to say I never joined Facebook. I wouldn’t go near this guy even virtually.
Social media may just need to die tbh!!
shanselman What happened to Facebook phone ?
Proof that even the best disguised turds still smell.
They helped incite a violent insurgency that attempted to overthrow government, steal an election, got law enforcement KILLED, divided the nation, aided in amplifying hate which triggered mass suffering, torture, death. Why do they still exist, with tax dollars? VP SecDef hrw
If you look at the whole stock market other stocks have fallen way more.
Politics1com They've made Facebook more difficult to use in the last year. You reap what you sow.
Lol
Good ol' market correction or something...
Now that Twitter is about to shit the bed, Facebook should be making their app usable/tolerable again.
When neurologist solve headaches, seizures, and other brain conditions the maybe people will be interested.
Hahahahahaha fuck Facebook
Go woke go broke
Just like bitcoin. Does that make Meta a ponzi?
He is danger to Americas First Amendment and Democracy. He is a pin head that is full of himself.
Facebook sucks
Ditch FaceBook. It has had tremendously terrible affects on Americans. It started out benign enough but the urge to monetize people’s information and the echo chamber it created it toxic! I cancelled my FB account 2 years ago.
😺👇😼✌️😽
Amazed that anyone could be surprised that wearing a pair of bulky, sweaty, goggles with screens a couple inches from your eyes for 6 hours to attend virtual corporate meetings with 2004 era graphics and no personalization or creative heart could be unpopular.
Maybe pouring money into a bootleg version of The Sims isn’t very bright?
He made bazillions. Now FB is dying. He’s a one trick pony.
_MAArgentino Any valuation during the Trump-Pandemic-Bubble-Economy was purely a fantasy based on bullshit accounting.
Maybe Musk will buy them, too. 🤡🤪
They could try the Mr. Rogers approach: be nice to people. Man, I tried to type that with a straight face. 😂
Everybody likes a good Judith Viorst reference. 😀
Sounds like a good start to a bad (but needed) end.
Your metaverse can't compete with Second Life
shanselman I assume FB stock is tanking because I refuse to buy a VR Headset from them ; ) (I deleted all my FB accounts 2 years ago)