MetaPlatformsmatrix of social networks FacebookWhatts App and Instagram lost $234.196 million in market capitalization value this Thursday on the NASDAQ, one day after presenting its financial report for the fourth quarter of 2021.
This is the worst drop in the market value of a public company in the history of Wall Street.
With this, the executive president of the firm, mark zuckerberglost about 30,000 million dollars of his personal fortune.
The drop reduced Meta’s market value to $664.311 million, moving away from its goal of reaching the $1 billion level and moving into the exclusive group of most valuable companies on wall streetwhere Apple, Microsoft Amazon and Alphabet are located.
“$200 billion is more than the combined capitalization of 452 S&P 500 companies,” said Gregori Volokhine, president of Meeschaert Financial Services.
Mark Zuckerberg said Wednesday that earnings are likely to remain under pressure, especially given competition from other social media apps like tiktok, Business Insider published this Thursday.
According to Bloomberg, to date the worst intraday drop in market value Apple had suffered it, in September 2020 when it lost 180,000 million dollars.
On Wednesday Facebook announcement that lost 1 million daily users, something unprecedented for the social network that has known, in its 18 years of existence, to always attract new users.
