Is This The End of Facebook?
Is Facebook done for?
Facebook, now known as Meta, has just made headlines after the company’s stock tanked an astounding 20% after they delivered a weaker-than-expected earnings report.
Astoundingly, Facebook CEO Mark Zuckerberg’s net worth also took a tumble as a result and it has been reported that he lost over $29 billion in personal wealth due to the sharp stock market drop.
According to Fox, Zuckerberg’s net worth now stands at around $88 billion before the stock market drop Zuckerberg was at around $114.4 billion.
Furthermore, more than $219 billion in market value has been erased making it the most any U.S. company has lost in a single day ever.
Is Facebook a value stock now? pic.twitter.com/ocmeOuwXOa
— Ben Carlson (@awealthofcs) February 3, 2022
During the company’s fourth-quarter earnings call, Zuckerberg claimed that advertisers’ budgets were affected due to macroeconomic challenges such as inflation and supply chain disruptions.
