Meta shares fall. Meta-owned Facebook is no longer one of the world’s 10 most valuable firms. After reporting two weeks ago that Facebook’s daily active user base had fallen for the first time ever, ‘s share price is down about 40% this year. The social media platform lost about one million users between the third and fourth quarters of 2021.
On February 3, the company revealed that it was struggling to meet demand. The news sent Meta’s stock tumbling 26.4% in one day, leaving it with a market capitalizing of $240 billion. It became the biggest one-day loss in US corporate history. Mark Zuckerberg, CEO of Meta, has lost a significant amount of money: His current net worth is now $78.8 billion, down more than $46 billion from the beginning of the year.
Meta shares fall
Since then, Meta’s stock has continued to fall, declining by another 13% thus far. This has placed the firm at the bottom of the list of global Fortune 500 firms by market capitalization.
Today, Meta is the world’s 11th most valuable firm with a market value of $565.4 billion, according to a Bloomberg ranking. According to Bloomberg, it was previously in sixth position based on Meta’s record-high share price on September 7, 2021.
Apple comes first with a market capitalization of $2.8 trillion, while Microsoft is second with a value of $2.2 trillion, according to the publication. Meta has dropped out of the top ten and is now tenth, trailing Chinese tech giant Tencent and chipmaker Taiwan Semiconductor Manufacturing Company (TSMC).
According to Bloomberg, the top 500 companies by market capitalization are listed in this table.
|7||Berkshire Hathaway||$700.6 billion|