'#DeleteFacebook': Meta users drop rapidly as company stock takes big dive

The online rhetoric surrounding Facebook lately has been one of general disdain, and Facebook has reportedly lost half a million daily users in the last three months. The app's parent company, Meta, saw its stock drop over 26 percent when the closing bell rang on Wall Street on Thursday. According to, should the trend continue, the company's total value is on pace to lose nearly $200 billion.

Meta's Chief Financial Officer Dave Wehner told analysts that"competitive services are negatively impacting growth, particularly with younger audiences." told AFP News. He stated that this has caused them to shift their focus to make the aspect of Reels more prominent on Meta apps.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook owner Meta set for $195 billion wipeout, biggest in market history(Bloomberg) — Meta Platforms Inc.’s one-day crash may rank as the worst in stock-market history.
Source: mercnews - 🏆 88. / 68 Read more »

S&P 500 drops back under 4500 level as dour Meta (Facebook) earnings hammer equity sentimentMajor US equity indices turned sharply lower on Thursday after an ugly earnings report from Facebook combined with hawkish surprises from the BoE and
Source: FXStreetNews - 🏆 14. / 72 Read more »