Mark Zuckerberg doesn’t seem like the kind of guy that loses large amounts of money overnight, but recently he did just that, and things are not looking going forward in some people’s opinions. As you know there has been all this talk about Facebook’s new parent company Meta, but the excitement surrounding the business rebranding hasn’t amounted to the growth they expected.
Details on How Mark Zuckerberg’s Facebook Company Lost $252 billion in Value in One Day Making History
According to recent reports Meta the parent company of Facebook lost $252 billion on market value in only one day after their earnings were much lower than anticipated. This means Mark Zuckerberg has set the record for the biggest one day drop in market history for a company.
This is not something he would want to have his name attached to, unless he can turn things around. By comparison the next biggest drop in stock market history was when Apple lost $180 billion in value on September 3, 2020. Facebook beat Apple’s woeful record by a mere $72 Billion, we say “mere” in a sarcastic fashion of course.
Is Facebook Dying?
Could a Facebook company losing $252 Billion in value spell the beginning of the end for them? The stock market is very volatile and unpredictable, so there’s a chance Facebook could bounce back. However market experts are sharing collective sentiment that this is a sign that the future is looking bleak for Mark Zuckerberg’s company. Experts believe that Facebook’s stiff competition from other social media platforms along with the negative connotations associated with the Facebook brand are creating a path of impending doom long term. Only time will tell though.