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Facebook miss sends social media stocks into after-hours tailspin

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Facebook owner Meta Platforms Inc shares plunged 22% late on Wednesday after the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast.

A 'Wall St' sign is seen above two 'One Way' signs in New York August 24, 2015. REUTERS/Lucas Jackson/File Photoshares plunged 22% late on Wednesday after the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast.

Several other social media companies also fell hard after the bell, including Twitter , Pinterest and Spotify , which also released disappointing results late Wednesday.

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