parent company of facebook Metainvests heavily in virtual reality. Especially lately metaverse The company, which has made a name for itself with the steps it has taken, makes the virtual world a part of our lives. However, this situation seems to cause disaster for Meta. However, analysts state Meta’s ‘train wreck’ defined as.
Meta hits four-year low
Meta recently reported a decline in its quarterly revenue. Then the company lost about a quarter of its market value on Thursday, and 24 percent a decline occurred. This too to the lowest level in four years. declined. Analysts said Meta’s position after consecutive declines ‘train wreck’ defined as.
the declines, CEO Mark Zuckerberg It’s a long way off from Facebook changing its name to ‘Meta’ in 2021 to highlight its focus on the metaverse. When we look at the time of last autumn, it is possible to say that Facebook is on the rise. But now the situation shows the opposite.
History missing from Meta! 730 billion dollars lost
Social media giant Meta reported a loss of $730 billion in the 16-month period. Mark Zuckerberg’s fortune has melted by more than $100 billion.
The market value of the company in September 2021, more than $1 trillion had a top. In addition, advertisers were flocking to Facebook and Instagram to reach billions of users. This increased profits. In general, it is possible to say that the technology industry has faced a major blow this year. However, Meta’s stock drop is lower compared to its predecessor. 67 percent showed a decline.
Meta’s market cap of more than $1 trillion in September 2021, according to information from Thursday $268 billion fell. The general reason for this decline is the metaverse, as well as the core Facebook business, with the economy slowing, with advertisers cutting spending as well.
Analyst Dan Ives made a statement about the decline in a report. “The results of Meta last night were an absolute train wreck appealing to widespread digital advertising fills as Zuckerberg and Co. made risky and heady bets on the metaverse.”
So, what do you think of Meta’s decline? Do you think Meta will be able to increase its market value? Do not forget to share your views with us in the comments section!