After the resounding fall in stocks this year, Meta is no longer one of the 10 most valuable companies in the world. Meta’s share price has dropped around 40% since the beginning of this yearafter the company reported two weeks ago that the daily active user base of Facebook it shrank for the first time ever. The social platform lost around one million users from Q3 to Q4 of 2021.
Destination in decline? The company loses users
The announcement of the abandonment of the users made Meta shares plummet by 26.4% in just one day, on February 3, wiping out $ 240 billion in market capitalization. It was the largest single-day loss in U.S. corporate history. Even the personal net worth of the CEO of Meta Mark Zuckerberg has suffered a severe blow: it is currently worth $ 78.8 billion, down more than $ 46 billion since the beginning of the year.
Since then, the price of Meta’s shares has fallen sharply, to date equal to 13%. This has plunged the company into the list of the world’s most valuable companies by market capitalization, leaping out of the top ten in an instant. Today, Meta is the 11th company on this list, with a market capitalization of € 565.4 billion dollars, at least according to a Bloomberg ranking. Meta was previously in sixth place, based on the company’s record share price on September 7, 2021.
In the first place of the top ten we find Apple, with a market capitalization of 2.8 trillion, and Microsoft in second place, with a valuation of 2.2 trillion. Meta now follows Chinese tech giant Tencent in 10th place and chip giant Taiwan Semiconductor Manufacturing Company (TSMC) in ninth place. In short, it certainly cannot be said that the company is failing, but it has certainly suffered a notable setback.