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Facebook Owner Meta Erases $251.3 Billion in Value, Biggest Wipeout in History

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ngchris
2022-02-04
ngchris
is this the beginning or the end of the fall?
- WestangoReplyWestango:
  look at snap, affected also by Apple ad policy, similar as meta. they recovered yesterday and jump 57% in one day.
- Westango:
  my take. wait for stability in price action, or reversal signal. the fall should be short term, recover before 2 quarters.

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That's the biggest wipeout in market value for any US company ever.And while the stock could certainly bounce back in coming days, especially given the volatility that's gripped the technology sector this year, the mood on Wall Street has turned decidedly bleak on the long-time market darling.Analysts are pointing to the stiff competition that Meta now faces from rivals and to the fact that revenue was below expectations as causes for concern. Michael Nathanson, an analyst at brokerage Moffett Nathanson, titled his note \"Facebook: The Beginning of the End?\"\"These cuts run deep,\" he wrote. The results were \"a headline grabber and not in a good way.\"The sheer size of Facebook's collapse illustrates just how tech companies have ballooned in size to become behemoths with unprecedented market power, and the drama that can ensue when they stumble.\"Lots of US megacaps are priced as growth stocks. They may suffer more in a rising yield environment, especially if growth becomes more questionable,\" said Frederic Rollin, senior investment advisor at Pictet Asset Management.Meta \"finds itself in the middle of a perfect storm,\" wrote Youssef Squali, an analyst at Truist Securities.Twitter, Snap and Pinterest all closed lower on Thursday and dragged the Nasdaq Index down 4.2 per cent, its worst sell-off since September 2020. Meta shares rose 1.4 per cent after hours.Meta's market cap as of Wednesday's close stood at roughly US$900 billion. The company makes up one of the original FAANG cohort of tech megacaps, including Google's parent Alphabet., Amazon.com and Apple.It's not the first time Meta shares have dropped dramatically. The stock plunged 19 per cent in July 2018 on a slowdown in user growth, translating to a about US$120 billion decline in market capitalisation. At the time, it set the record for the largest-ever loss of value in one day for a US traded company.\"We're hopeful the company kitchen-sinked the outlook,\" said Shyam Patil, an analyst at Susquehanna Financial Group.More On This TopicFacebook parent Meta sheds US$200 billion in stock plummetMark Zuckerberg loses US$29 billion in a day as Meta shares 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this the beginning or the end of the fall?","text":"is this the beginning or the end of the fall?","html":"is this the beginning or the end of the fall?","likeSize":0,"commentSize":2,"subComments":[{"id":100418038,"commentId":"100418038","gmtCreate":1643940849117,"gmtModify":1663243256647,"authorId":3579788727995257,"author":{"id":3579788727995257,"idStr":"3579788727995257","authorId":3579788727995257,"name":"Westango","avatar":"https://static.tigerbbs.com/3a4b1fc2fb23b33fff900b71df70c49f","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 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of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.19%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"objectId":9091733835,"objectIdStr":"9091733835","type":1,"supId":100417664,"supIdStr":"100417664","prevId":100418035,"prevIdStr":"100418035","content":"look at snap, affected also by Apple ad policy, similar as meta. they recovered yesterday and jump 57% in one day.","text":"look at snap, affected also by Apple ad policy, similar as meta. they recovered yesterday and jump 57% in one day.","html":"look at snap, affected also by Apple ad policy, similar as meta. they recovered yesterday and jump 57% in one day."},{"id":100418035,"commentId":"100418035","gmtCreate":1643940839966,"gmtModify":1663243256140,"authorId":3579788727995257,"author":{"id":3579788727995257,"idStr":"3579788727995257","authorId":3579788727995257,"name":"Westango","avatar":"https://static.tigerbbs.com/3a4b1fc2fb23b33fff900b71df70c49f","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.19%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9091733835,"objectIdStr":"9091733835","type":1,"supId":100417664,"supIdStr":"100417664","prevId":0,"prevIdStr":"0","content":"my take. wait for stability in price action, or reversal signal. the fall should be short term, recover before 2 quarters. <br>","text":"my take. wait for stability in price action, or reversal signal. the fall should be short term, recover before 2 quarters. <br>","html":"my take. wait for stability in price action, or reversal signal. the fall should be short term, recover before 2 quarters. <br>"}],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/9091733835"}