TECHNOLOGY

Meta Shares have fallen in value faster than Bitcoin

Meta Shares have fallen in value faster than Bitcoin

Meta Shares have fallen in value faster than Bitcoin

Meta Shares have fallen in value faster than Bitcoin

Meta share prices fell 24% on Thursday, reaching their lowest position in four years.
Facebook parent ‘Meta’ continues to face stock market upheaval, with stock prices falling by more than $700 billion. Just this Thursday, the share price fell over 24%, bringing it to its lowest level in four years.

On October 28, 2021, CEO Mark Zuckerberg declared that Facebook will become Meta and enter the metaverse sector. Analysts on Wall Street describe the share price decline as a “train crash.” Others have also criticised Zuckerberg’s choice to enter the Metaverse industry.

Shareholders pay the price for moving to the Metaverse; only last year, the Meta market value peaked at more than $1 trillion. Revenue was also up across the board since advertisers and marketers were aggressively investing on Instagram and Facebook, but things are looking well for the firm today.

The start of 2022 saw a 31% drop in practically the entire IT industry, but things were far worse for Meta. The IT titan’s stock dropped 67%, resulting in a $700 billion market value loss.

The massive drop in value and rising criticism have prompted concerns for both Meta and Mark Zuckerberg. Meta’s two most successful social media companies, Facebook and Instagram, have both seen a fall in growth, compounding the company’s woes.

Advertising was a major source of revenue for both Facebook and Instagram, but reports indicate that both platforms are seeing a reduction in advertising revenue this quarter. According to the article, platform sales have slumped to 3.7%, putting Meta and its investors in a bind.

 

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