Meta's share price fell 25 percent overnight

Meta's share price fell 25 percent overnight

Shares in Meta, the parent company of Facebook, WhatsApp, Instagram and Meta Quest (fka Oculus), have fallen more than 25 percent since the previous day's close, revealing their first gradual decline in Facebook since morning. Daily active users. After closing Wednesday at $323, they declined to $238.90 before a slight recovery.

Bloomberg reports that the $200 billion drop could rank as the biggest single-day drop in market cap ever, as Meta struggles with losing relevance among young people and CEO Mark Zuckerberg. The "metaverse" plans focus their goals toward.

Meta wasn't the only company that had a bad Thursday; The entire Nasdaq exchange was down about 2 percent by noon, and rivals Snap and Twitter were trading even lower. Snap, which is listed on the New York Stock Exchange, was down more than 20 percent shortly before 11 a.m. ET, and Twitter, also on the NYSE, was down nearly 6 percent.

Of course, Meta is still worth some $671 billion and reported more than $40 billion in profit for 2021, despite the "headwinds" frequently cited on calls with investors to discuss the results. That's a slightly better situation than it was after the "clusterfuck" 2012 IPO, when it took a full year for the company's stock to match the original offering price.