Victor Wynne

Meta’s market value plunges by $230 billion in one day

Richard Lawler:

The price of shares in Meta – the parent company of Facebook, WhatsApp, Instagram, and Meta Quest (fka Oculus) – dropped more than 25 percent at the start of trading on Thursday, after it revealed its first-ever sequential decline in Facebook’s daily active users . By the time the markets closed, the company had seen $230 billion in market value wiped out, the biggest one-day loss ever by a US company.

A well-deserved outcome.