The tumbling of Meta platforms’ shares
The Hindu
What was the trigger for the sheer drop in shares? Is the Metaverse not profitable?
The shares of Meta Platforms, the parent company of social media giant Facebook, crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. The crash came after Meta on Wednesday announced its earnings results for the fourth quarter of 2021 which did not impress investors. The 25% crash in Meta shares is its biggest fall since its debut in 2012.
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