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How Much Did Facebook Lose Today?
The stock market plummeted by more than $230 billion today, Mark Zuckerberg’s fortune dropped by nearly $29 billion, and daily active users declined for the first time in the site’s 18-year history. Even more bad news for the company: it announced a new name: Meta. Despite the bad news, the rebranding is still a good thing for its users. However, it may not be the perfect way to keep users’ attention.
Mark Zuckerberg lost $29.7 billion
Facebook‘s CEO Mark Zuckerberg has lost more than $29.7 billion in just one day. Including the loss of his stake in Meta Platforms Inc., he has now lost more than $200 billion from his net worth. Zuckerberg, who has 12.8% of Facebook, has now dropped to number 12 on Forbes’ list of the world’s richest people. But despite losing the most money, Zuckerberg still has many ways to increase his wealth and stay ahead of his competitors.
Facebook stock is now worth just over $130 billion, a decrease of more than $13 per share. The CEO’s net worth is now at about $84.8 billion, down from the $113.1 billion he earned in the previous quarter. This may interest you : How Do I Change My Password on Facebook?. In addition to Facebook, the founder also owns 12.8% of the parent company, Meta Platforms Inc. The stock has plummeted more than 20% today. The loss of nearly two billion dollars is a shock for everyone, but there are plenty of ways to recover.
Facebook’s stock market value slumped by more than $230bn
Last week Facebook’s stock market value fell by more than $230bn, due in part to the company’s disappointing quarterly results. Fears of tighter monetary policy and inflation are affecting share prices. Meta Platforms, the parent company of Facebook, reported a fall in daily active users in its Q4 2021 earnings report. The company also warned that its revenue for Q1 2022 would fall short of Wall Street expectations. See the article : What Size Should a Facebook Post Image Be?. Meanwhile, the gas and energy crisis has led to a rise in oil stocks, including BP, which recently reported its highest profit in eight years. The monetary policy is also affecting share prices, as government bond yields are moving higher again. Higher yields help an economy grow and companies raise capital.
The fall in Facebook shares occurred after the company’s parent company, Meta, dropped by 19%. As a result, the stock value of Facebook fell by $230 billion – a record loss for any US firm in one day. Despite this massive loss, analysts expect it to bounce back in the coming days. The company’s rivals are increasing their market share, and the loss in Facebook’s market cap is likely to be temporary.
Its daily active users declined for the first time in its 18-year history
It’s been years since Facebook saw a decline in its daily active users, but the company’s growth rate has been slowing down this quarter. The social network added users in Europe and Asia Pacific, but its user count in the U. On the same subject : How to Disable Facebook Temporarily.S. dropped for the first time since it launched 17 years ago. The company has blamed the decline on an increase in data plan prices in India.
Facebook’s parent company, Meta Networks, announced the decline in its daily active users, or DAUs, last quarter. The company’s results came as a shock to investors, with its market value plummeting 26% on Thursday. The drop was the biggest in the company’s history. As a result, Facebook’s stock price dropped by over $200 billion and sank by 26% on Thursday.
Its rebranding to Meta
The rebranding of Facebook to Meta is a long time coming. Facebook has been investing heavily in its metaverse project, which will be known as Meta. It’s also the latest example of Facebook’s push for greater regulation in the US. While Zuckerberg is still under heavy scrutiny, the company’s recent scandals have pushed the company’s stock price lower. It’s unclear whether the rebranding is related to the slew of privacy scandals or the rebranding.
Despite the recent turmoil, the rebranding is a brave move from Zuckerberg. He’s facing new social media competitors, frustrated government regulators, and a new generation of potential users that views Facebook’s core app as uncool. With the new name, Facebook is trying to reinvent itself and stay in control of everything. After all, Google founders took a backseat to focus on other businesses, which is what led to the company’s public relations crisis.
