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Zuckerberg’s Facebook empire collapsing

RT | February 18, 2022

Once the world’s sixth largest firm with a valuation of over $1 trillion, Facebook’s parent company Meta finished Thursday’s trading with a value of $565 billion. According to data compiled by Bloomberg, the social media giant has tumbled out of the world’s 10 largest companies by market value, hammered by its worst monthly stock decline ever.

The stock rout has placed Mark Zuckerberg’s company in 11th place behind Chinese Tencent Holdings. Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) holds the ninth spot. The list of the world’s most-valuable companies, ranked by market capitalization, includes Apple, Microsoft, Aramco, Alphabet, Amazon, Tesla, Berkshire Hathaway, and Nvidia.

Data shows that the value wiped out by the selloff in Meta’s shares exceeds the market caps of all but eight companies in the S&P 500 Index. Meta’s share price is down about 40% year-to-date after the company reported two weeks ago that its social media platform Facebook lost about one million users from the third quarter to the fourth quarter of 2021. That’s the first such decline for the company in its 18-year history.

Meta’s stock plummeted 26.4% on February 3 after the company released its weaker-than-expected outlook. The $240 billion loss in market capitalization was the largest one-day loss in US corporate history. CEO Mark Zuckerberg’s personal net worth is down more than $46 billion from the beginning of the year, he’s currently worth $78.8 billion.

Since then, Meta’s share price has extended losses, losing another 13% to date. The company has warned that the rest of the year is shaping up to be a choppy one as it deals with “macroeconomic challenges” and continues its long-term strategic shift “towards building the metaverse.”

February 18, 2022 - Posted by | Civil Liberties, Full Spectrum Dominance, Science and Pseudo-Science |

4 Comments »

  1. I think that the way Facebook has treated their members with regard to Covid 19 has turned millions of people off from the Facebook ‘platform’. It used to be a good place to air your reasonable thoughts about important matters but, with Covid 19, ONLY the official opinion about Covid was acceptable. Making comments questioning the “official Line” received warnings, implying that your opinion was worthless.

    Too bad if Zuckerberg gets flushed down histories toilet. Good riddance.

    Like

    Comment by brianharryaustralia | February 18, 2022 | Reply

  2. it couldn’t have happened to a nicer guy!!

    Liked by 1 person

    Comment by papasha408 | February 18, 2022 | Reply

  3. Flushing the filthy Fecesbook and the giant turd aka Mark Scheissberg that stole it is a good start in the collapse of all things USSAN. Now to get the sheeple to stop using Gaggle, not to mention EweTueb where the sheeple bleat to bone up on kitty litter vids.

    Liked by 1 person

    Comment by planetsheeple | February 19, 2022 | Reply

    • “Gaggle”, particularly its Search engine is useless. Whatever you ask it these days, you get a ridiculous load of rubbish about the subject that is usually out of date.
      It tends to lead you away from what you are searching for….

      Like

      Comment by brianharryaustralia | February 19, 2022 | Reply


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