![]() ![]() STOCKS SLIDE: Facebook parent company Meta plunges, other tech stocks also stumbleįACEBOOK: Network is losing users for the first time ever and shares in Meta have fallen off a cliff company to achieve a market value surpassing $1 trillion – the others being Apple, Microsoft, Amazon and Google parent Alphabet. Last summer, when the company was still known as Facebook, the company became only the fifth U.S. history, The Wall Street Journal reported. The loss is the largest one-day decline in U.S. The company's market cap had been $898.5 billion early Thursday. Meta's market value fell more than $230 billion to a market capitalization of about $661 billion. Shares of the social media giant were down more than 26% Thursday, the first day of trading after Meta reported a decline in profit and users during the last three months of 2021 – and most tellingly, forecast revenue declines in the current quarter.
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