The company in the last three years – for the first time since 2019 – the value fell below $400 billion.
The value of Meta Platforms Inc. fell below $400 billion for the first time since January 2019. This is confirmed by Dow Jones Market Data, Interfax-Ukraine reports.
The company’s market capitalization reached $1.078 trillion on September 7, 2021. However, it has recently declined by nearly 65%.
The share price of the owner of the social network Facebook and Instagram fell 13.5% last week. Thus, he finished “in the red” in each of the five sessions.
As a result, the quotes fell to their lowest levels since March 16, 2020.
Note that Meta is 10th on the list of US companies with the largest capitalization. Last week it lost the ninth position to Visa Inc.
Recall that Meta Platforms Inc raised $10 billion in its first bond placement.
As Athletistic wrote earlier, Meta lost $200 billion overnight after the release of quarterly results. The company failed to meet revenue and active user forecasts.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.