8/24/2023 0 Comments Meta stock crash![]() Shares in Mark Zuckerberg's company have plunged 70 this year to around 100. Yahoo Finance's tech team of Alexandra Garfinkle and Dan Howley contributed to this story.īrian Sozzi is an editor-at-large and anchor at Yahoo Finance. Justin Sullivan/Getty Meta spent 45 billion on stock buybacks last year, paying about 330 a share on average. Our biggest concern is the payback period for Meta's combined ~$130 billion in capex/opex for FY23, which could take years to improve the revenue growth trajectory," Jefferies analyst Brent Thill said in a client note. "We believe investors will question META's FY23 guidance of ~15% expense growth and ~13% capex growth into a slowing digital ad market. Why Meta Platforms Stock Crashed (Again) Monday Morning By Danny Vena at 3:02PM Key Points Investors continue to digest Meta's tepid earnings results. REUTERS/Benoit TessierĪgain, not what investors wanted to hear. booth at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 16, 2022. He called the trading declines "an overreaction.An attendee wearing a virtual reality (VR) headset tries out a VR application on the Meta Platforms Inc. It was the guidance that spooked people," Mr Jeffress said. "The results, taken in their entirety, were okay. Meta shares rose as much as 8.8 to 325 in premarket trading on Thursday after the social media giant said that ads will drive revenue growth at the fastest rate since 2021. 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. The company also provided a disappointing sales forecast for the current quarter. 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. Meta Loses 195 Billion In Biggest Ever Crash Mark Zuckerberg’s Net Worth Plunges By 31 Billion. "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. The social media companys stock has fallen by 37.7 year to date and. 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. Shares of Meta Platforms ( META -2.73) fell 32.6 in February, according to data provided by S&P Global Market Intelligence. The broader S&P 500 and blue chip Dow Jones Industrial Average had smaller, but still substantial, falls. ![]() The tech focused Nasdaq, of which Meta is a major part, plunged 3.7 per cent, to close at 13,879. The company reported earnings of 3.67 per. That means a big swing in either direction for such a company can do much to sink or lift the broader market. The rout of Meta stock began as the result of a lackluster earnings report for Q4 2021. During Meta's third-quarter earnings call this week, execs cautioned that those losses will. Reality Labs, the company's metaverse division, has burned a 9.4 billion hole this year, including 3.7 billion in the most recent quarter. Meta's lofty stock price, as with several other big communications and technology companies, has an outsized influence on markets. 792B (-1.45) -4.54 Current Price The social media giant turned metaverse pioneer has seen its stock price fall substantially since reporting third-quarter results. Driving the news: Meta's stock closed at 97.94 a share on Thursday, its lowest price since January of 2016. Mr Zuckerberg was not the only one losing a lot of money overnight. View the best growth stocks for 2023 here. Since then, META shares have increased by 0.0 and is now trading at C0.14. However, according to the Forbes real time billionaires index, Mr Zuckerberg still has an estimated personal fortune of nearly $US85 billion ($119 billion). Meta Growths stock was trading at C0.14 at the start of the year. 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. 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. How to Make a Passive Income with Stock Market, Collectibles-NFTs, Crypto Art, Digital Assets, Non Fungible Token, Ecosystem and Blockchain Gaming Crash.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |