- Meta’s shares plunged almost 25% on Thursday, bringing its market capital down to $263 Billion.
- After being the sixth most valuable company for the year, it now ranks 27th in the world.
- Mark Zuckerberg’s net worth has been shaved by 70% due to the drop in Meta’s share prices this year.
Meta Platforms was once the sixth-largest company in the world. However, it has been dropped from the top 20 most valuable companies in the world by market capitalization. This is thanks to Mark Zuckerberg, CEO of Meta Platforms.
Meta was demoted following a drop in its share price Tanked almost 25% on ThursdayA quarter of the stock’s market price has been reduced, or about around $65 billion.
Meta is the 27th most valuable company in the world with a market cap of $260 billion. According to a report by a, this is a significant drop from Apple at the top and Tesla at the sixth. Exxon was in the 10th place. Bloomberg ranking. It is also a difficult fall from a market capital of just below $1 trillion at the beginning of the year.
Meta shares dropped to $97.36 on Thursday after the company reported its second consecutive quarterly revenue decline. Meta’s stock price has fallen 71% so far this year.
Thursday’s share price drop is only eight months after Meta’s shares plunged 26.4% on February 3 — the The largest single-day loss in US corporate history — after reporting that Facebook’s active users dailyThe market cap of Meta shrank for the first ever time. This alone has wiped out $240 Billion from Meta’s market cap.
A prolonged decline in Meta’s stock prices in February caused the company to go under. Here are the top 10 most valuable companies worldwide list.
Facebook’s parent could have more trouble in the future, having already given away a weak fourth-quarter guidanceWarning about declining sales as a result of a slowdown digital advertising spending Analysts and investorsThey are also concerned about Zuckerberg’s metaverse pursuit. This is expected to cause them concern. In 2023, you will lose even more money
The Meta’s woes have not spared Zuckerberg. His wealth has already fallen by 70% as of Thursday according to the Bloomberg Billionaires Index.A 13% stake in Meta is what makes up the majority of billionaire wealth.
His current worth is $37.7B, which means that Zuckerberg remains the 28th richest person in the world, even though he started 2022 with $125 billion. According to the index.
Meta said that Meta has no comment on volatility in stock prices.
