Meanwhile, the decision to rebrand the recognizable Oculus name to Meta led to accusations that management were squandering what value they'd built up in one of their most expensive acquisitions. (META) NasdaqGS - NasdaqGS Real Time Price. Despite the fanfare from Zuckerberg & Co, the value and vision of the metaverse were met with ongoing skepticism. Meanwhile, warnings about what might impact Q1 2022 – including changes in iOS affecting ad targeting, supply chain disruption to advertiser spend, and lower monetization as more users watch Reels rather than Feed or Stories – have also seemed to spook shareholders.įacebook's transition to Meta, billed as a way of underscoring just how important the company sees the so-called metaverse as being to its future, has been a rocky one. Thats after the companys stock surged 56 on Thursday alone on the back of. Meta is down more than 20%, with even the positive results for 2021 falling short of what the market had been expecting. Carvana short-sellers have suffered losses of more than 1 billion this year, according to Bloomberg. Facebook daily and monthly active users were both up, 5% and 4%, respectively.ĭespite all that, investors have been quick to scorn the stock. Ad impressions were up 10% year on year, and average price per ad increased 24% in the same period. The company made nearly $40 billion in net income in 2021, a 35% year-on-year increase. Combine this all, and Meta shares have sunk 30% since September, a point when they had been at record highs.Certainly, it's not like Meta had a bad year, financially at least. Meta on Wednesday said it expects to lose $10 billion in annual revenue from the switch. Another complication: Apple’s change to its iPhone software, which has made it harder for companies like Meta to sell digital advertising. In addition to the metaverse and growth concerns, a whistle-blower scandal enveloped the company last fall, prompting fresh questions about its handling of bad content on its site-and about Zuckerberg’s leadership. ever, likely only behind a $33 billion tumble for Elon Musk last year. 12 at the moment.) The plummet in his fortune is one of the largest single-day losses for any billionaire. With the drop, Zuckerberg no longer ranks among the ten richest people in the world. On Thursday, Meta stock plummeted from 323 to 237 at the days dropping its valuation from nearly 900 billion to 661 billion in just a matter of hours, Business Insider reported. It’s not great either for Facebook cofounders Dustin Moskovitz (down $3.9 billion Thursday) and Eduardo Saverin ($4.2 billion), who have moved on from Facebook but retain significant stakes in the business. The price of shares in Meta the parent company of Facebook, WhatsApp, Instagram, and Meta Quest (fka Oculus) dropped more than 25 percent at the start of trading on Thursday, after it. Which is bad for Zuckerberg personally the majority of his net worth is centered in Meta stock. 'We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow,' said Mark Zuckerberg, Meta founder and CEO. Zuckerberg and Meta have experienced a miserable few months, and despite many years of scandal and a Teflon stock, the weight of all that is coming down on the shares. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2021.
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