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Sharp drop in market capitalization of Meta (Facebook)
09 Nov 2022 (124 views)  

One year ago, the stock price of Meta (Facebook) was $345, giving a market cap of $857 billion.

The stock price dropped by 72% to the current price of $96. The market cap dropped to $240 billion. 

The market cap dropped by $617 billion in 1 year. 

The drop is partly due to the market as a whole. The S&P 500 index dropped by 20% since the start of 2022.

A major factor leading to the drop in the stock price of Meta is the large loss incurred by the metaverse project. The loss for 9 months of 2022 is $9.4 billion or about $1 billion a month. 

Meta has just announced a reduction of 13% in its workforce. It is likely that most of the cut will be from the metaverse team. This may reduce the large loss. 

Here is an analysis of the stock from the Motley Fool. It is not a good time to buy the stock, in spite of its large decline. 
Link.
 

Sharp drop in market capitalization of Meta (Facebook)
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One year ago, the stock price of Meta (Facebook) was $345, giving a market cap of $857 billion.

The stock price dropped by 72% to the current price of $96. The market cap dropped to $240 billion. 

The market cap dropped by $617 billion in 1 year. 

The drop is partly due to the market as a whole. The S&P 500 index dropped by 20% since the start of 2022.

A major factor leading to the drop in the stock price of Meta is the large loss incurred by the metaverse project. The loss for 9 months of 2022 is $9.4 billion or about $1 billion a month. 

Meta has just announced a reduction of 13% in its workforce. It is likely that most of the cut will be from the metaverse team. This may reduce the large loss. 

Here is an analysis of the stock from the Motley Fool. It is not a good time to buy the stock, in spite of its large decline. 
Link.