#META STOCK CRASH FREE#
He called the trading declines "an overreaction. Meta Loses 195 Billion In Biggest Ever Crash Mark Zuckerberg’s Net Worth Plunges By 31 Billion. At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. It was the guidance that spooked people," Mr Jeffress said. "The results, taken in their entirety, were okay. Mr Jeffress pointed to strong or increasing numbers Meta reported for user engagement, advertising and revenue per user. Some portfolio managers also saw a reason to buy.ĭavid Jeffress, portfolio manager at Laffer Tengler Investments, said on Thursday the firm was looking to add to its stake in Meta as the stock declines. It was also a popular stock for retail investors, who appeared to be enthusiastically buying the dip. Other institutional investors were also heavy owners.
Meta was a widely held stock by various investor groups, including hedge funds, according to recent data, leaving a number of funds potentially exposed by the wipe-out in its shares. "The tech sell-off spilled over to broader equity markets this morning and, with the Fed preparing to raise interest rates, we could see more volatility going forward." It also reported a rare decline in profit due to a sharp increase in expenses. Meta sank after forecasting revenue that was well below analysts' expectations for the current quarter, a disappointment for a company that investors have become accustomed to delivering spectacular growth. Topline Shares of Facebook’s parent firm Meta were down nearly 20 in pre-market trading, continuing a slide Thursday after the company’s third quarter earnings released a day earlier fell short.
The broader S&P 500 and blue chip Dow Jones Industrial Average had smaller, but still substantial, falls. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than 75.5 billion to its existing 401 billion market capitalization. The tech focused Nasdaq, of which Meta is a major part, plunged 3.7 per cent, to close at 13,879. Meta stock surged nearly 19 in after-hours trade. That means a big swing in either direction for such a company can do much to sink or lift the broader market. The tech company was then trading just above 90, meaning Munster thought the stock could get as high as 130. Meta's lofty stock price, as with several other big communications and technology companies, has an outsized influence on markets. Mr Zuckerberg was not the only one losing a lot of money overnight. However, according to the Forbes real time billionaires index, Mr Zuckerberg still has an estimated personal fortune of nearly $US85 billion ($119 billion). Mr Zuckerberg's nearly $US30 billion drop in personal wealth was the second-largest one-day personal loss in history according to US financial news outlet CNBC.Īccording to CNBC, the biggest one-day personal drop in wealth was a $US35 billion loss for Tesla founder Elon Musk in November. He has pointed furiously to what he calls “unprecedented levels of competition,” including from TikTok, Apple, Google and future opponents.īut the threat of antitrust action has made it more difficult for Meta to buy its way into new social networking trends.This decline marked the company's worst one-day loss since its Wall Street debut in 2012, and the biggest single-day loss of dollar value by any listed firm. Zuckerberg has argued that Meta is not a social networking monopoly. Lawmakers have also coalesced around congressional efforts to pass antitrust bills. Meta faces multiple investigations, including from a newly aggressive Federal Trade Commission and multiple state attorneys general, into whether it acted in an anti-competitive manner. Shares in Mark Zuckerberg's company have plunged 70 this year to around 100. The threat of regulators in Washington coming for Zuckerberg’s company is a headache that just won’t go away. Justin Sullivan/Getty Meta spent 45 billion on stock buybacks last year, paying about 330 a share on average. Newsletter | Click to get the day’s best explainers in your inbox The specter of antitrust looms. Yet there is no evidence the bet will pay off. Zuckerberg expects to spend even more in the future. Zuckerberg, at a meeting with Meta employees after the stock crash, said that the loss could be attributed to the company’s weak revenue forecast in the present quarter. So big that the spending amounted to more than $10 billion last year. Zuckerberg believes so much that the internet’s next generation is the metaverse - a still fuzzy and theoretical concept that involves people moving across different virtual- and augmented-reality worlds - that he is willing to spend big on it. Click here for more Spending on the metaverse is bonkers.
0 kommentar(er)
