Meta breaks historical record for value decline in US market
The social media giant lost almost $240 billion in 24 hours
04.02.2022 - 12:10
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What’s new? Meta broke the US historical record for a one-day drop in value. Following the release of its 4th quarter 2021 report, which showed a decline in revenue and the number of active users, the company’s shares fell by 25%. According to CNBC, Meta’s capitalization decreased by $237 billion.
How has the collapse affected Mark Zuckerberg? According to Forbes’ Real-Time rankings, Meta’s founder’s fortune dropped by $29,7 billion to $84,8 billion. Other social media networks such as Twitter, SnapChat, and Pinterest were also affected by the drop in the company’s shares.
What were the big collapses before this one? The previous record for the biggest losses belonged to Apple. In September 2020, the company lost $183 billion overnight. Before Apple, the record also belonged to Facebook. In July 2018, the company lost $118 billion.
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