The market value of Facebook’s parent company has collapsed by $676 billion this year. As a result, the company is no longer among the top 20 by market capitalization in the United States. CEO Mark Zuckerberg thanked investors who are still with them for their patience. It was estimated yesterday that the company’s stock was down 23%.
Back at the beginning of the year, Meta was the sixth-largest U.S. company by market capitalization, with a market value approaching $1 trillion. Here it’s ten months later, worth about $260 billion.
Although the market value has fallen so much, it’s not so critical compared to the company’s record 26% decline in February. Then it was down $251 billion in market value. Experts have rated this as the most significant drop in market value for any U.S. company.
The company has lost about 70% of its value this year. Also, about 74% of the company has lost since the stock price peak in September 2021. This can be considered a total loss of $730 billion in market value. Experts estimate that the company’s stock has been trading at its lowest since early 2016.
