Meta closes down 26%, erasing ~$250B from its market cap, the biggest single-day loss in market value for a US company, after weak Q4 results and Q1 guidance

the second-biggest drop ever Steve Muchoki / Coinspeaker : FB Stock Dips Over 26% after Meta Forecasts Weaker than Expected Earnings Jody Serrano / Gizmodo : Snap Up, Zuck Down  —  Snap earned a profit for the first time in its history. Arcangelo Ròciola / Materia viva : Il crollo di Facebook. Snapchat, la fenice Robin Wigglesworth / Financial Times : Investors can take market turbulence in their stride Luiz Gomes / Sobre Startups : sobre startups #98 | 🦾 as fases do fit Tweets: @facebookstop10 : The top-performing link posts by U.S. Facebook pages in the last 24 hours are from: 1. Breitbart 2. Ben Shapiro 3. Dan Bongino 4. NPR 5. Ben Shapiro 6. Ben Shapiro 7. Ben Shapiro 8. Steven Crowder 9. Ben Shapiro 10. Franklin Graham Jeff Jarvis / @jeffjarvis : I'll bet that within 2-4 years, folks will be laughing: “Oh, remember when we thought Facebook was a threat to democracy and society? Ha, how ridiculous of us. Remember MySpace? Friendster? Alta Vista? Prodigy? Heh, weren't we silly?” David Sacks / @davidsacks : In hindsight, Facebook rebranding on Oct 28 to emphasize its most speculative, money-losing division was a peak bubble indicator. Joe Weisenthal / @thestalwart : Oh my... At the company all hands meeting today, CEO Mark Zuckerberg appeared red eyed and wore glasses, and the Facebook staff were told in advance that he might tear up because he scratched his eye https://www.bloomberg.com/... https://twitter.com/... Alex Sherman / @sherman4949 : Facebook has lost more value today ($240b-ish) than almost all global companies have ever been worth, at any time, in their histories. @marketinstitute : Well this is one way to avoid targeted regulation... #antitrust #antiantitrust https://twitter.com/... Frances Haugen / @franceshaugen : Unfortunately, this massive drop in Facebook's stock price last night also represents massive losses in retirement accounts and pensions nationwide. This is what happens when public companies *lie* about material issues — real people get hurt. https://www.bloomberg.com/... https://twitter.com/... Lee Fang / @lhfang : Pretty wild that, beyond the metaverse stuff, Facebook is losing *$10 billion* this year from a single iOS iPhone update that allows users to opt out of some trackers that are placed on apps. https://www.cnbc.com/... Glenn Fleishman / @glennf : Also amusing of Facebook to whine about a browser “carve out,” when Apple has put more anti-tracking elements into Safari than any other browser and effectively banned third-party cookies. Ned Ryun / @nedryun : The world would be a better place if Facebook ceased to exist and Zuckerberg lost all his money. . . https://www.msn.com/... Emma Kinery / @emmakinery : Mark Zuckerberg asked his Facebook (Meta) employees to focus on video products, after they watched the stock lose a quarter of its value today https://www.bloomberg.com/... via @technology Ryan Mac / @rmac18 : Friendster didn't power a genocide https://twitter.com/... Artur Adib, PhD / @r2r : Facebook/Meta's stock just lost the equivalent of six Twitters, or three Modernas *overnight*. https://twitter.com/... @issielapowsky : NEW: Meta's collapse means it's inching pretty close to the threshold Congress set for companies covered in its antitrust bill. But not so fast: the bill looks at average market cap over 2 years. Still, raises questions about using market cap as the bar. https://www.protocol.com/... Mike Masnick / @mmasnick : As @PatHedger18 points out, a bunch of the antitrust bills that were written deliberately to target @meta, will not apply to @Meta if its stock goes down just a little bit more (they set a $600 billion market cap threshold, and Meta is down to $660 billion........) https://twitter.com/... @cobie : Facebook “Meta” going to zero as investors learn the metaverse literally doesn't exist @sophnar0747 : It's a good thing Zuckborg doesn't know how to show emotion, otherwise I imagine he'd be shattered and furious. https://twitter.com/... @destinlegarie : It's almost like Meta sounds ridiculous or something. https://twitter.com/... Parker Molloy / @parkermolloy : The logical end result of a series of decisions Facebook made in early 2016: https://twitter.com/... Sara Morrison / @saramorrison : Huh, the last time I heard something about pivoting to video, it was my job laying me and all the other writers off because Facebook gave out false metrics about video engagement. https://twitter.com/... @marietjeschaake : One the day Facebook lost +/- 200 billion dollars ↘️ https://twitter.com/... Dan Ives / @divestech : Facebook being crushed today made sense to us, as the business model has potentially changed with IDFA, however the rest of tech being sold in a panicked risk-off moment a cautionary tale when 24 hours later Amazon has monster print. Tale of two cities in tech world-bifurcation Kevin Roose / @kevinroose : @RMac18 Nah he's right, just look at the stellar reputation of the Triangle Shirtwaist Company Crystal P. / @crystalp : Probably unpopular take: FB's stock drop is why they operate the way do. Investors are hooked on growth as a metric, the company gets slammed if they don't put that ahead of everything else. Not saying it's right, but I think it explains a lot of their choices. Dan Ives / @divestech : We view Facebook's softness/disappointing quarter as an Apple IDFA gut punch that finally reared its impact in numbers along with TikTok competitive share gains. Apple's iOS privacy changes have changed the game for ad targeting/Facebook. Bifurcation in tech earnings continues @donie : Wow. Hope it'll be still be able to afford top people like Nick Clegg https://twitter.com/... Chris Bakke / @chrisjbakke : Snap stock is down 24% today. Facebook stock is down 28% today. That's because Facebook copies everything Snap does and makes it slightly worse. Robert Evans / @iwriteok : psyched to see this current strain of Metaverse nonsense go the way of the 3D TV. https://twitter.com/... @daringfireball : Facebook Accuses Apple of ‘Browser Carve-Out’ on Tracking Prompts, Hoping No One Will Remember That Safari Is Heavily Biased Toward Privacy https://daringfireball.net/... Jack Mackenroth / @jackmackenroth : So Facebook is over. Good. Facebook stock plummets 26% in its biggest one-day drop ever https://www.cnbc.com/... Taylor Lorenz / @taylorlorenz : Get in loser, we're pivoting to video again https://www.bloomberg.com/... @rmac18 : Just because a company's stock price dropped precipitously or its products becomes obsolete doesn't mean that its past history just gets forgotten. @samidh : DAP down + MAP up = DAP/MAP plummeting == Trouble == Prediction sadly on track. [Prediction: “TikTok will eclipse FB in aggregate daily time spent in the 5 most lucrative markets (sans India). TT's enhanced ad targeting will cause FB's first ARPU decline ever. Upside for Meta: anti-trust will fizzle and they can spread rumors Beijing meddled in the midterms."] David Sacks / @davidsacks : More power to them if they pull it off. It's a risky bet for sure, and they will deserve the credit if metaverse plays out. Walter Hickey / @walthickey : to all the haters who thought that Facebook had only actually made one single innovative thing in the entire history of the company, well, look at this: history made, a second time. https://twitter.com/... Matt Rosoff / @mattrosoff : This is not the kind of record anybody wants to set. Facebook's one-day loss in market value is the worst for any company in the history of the stock market. Check out the chart for the other all-time losers: https://www.cnbc.com/... Rat King / @mikeisaac : In the past, Wall Street has for the most part given Zuckerberg, Sandberg and co. the benefit of the doubt on big business decisions when they say “trust me, we got this” today, however, faith is in short supply https://www.nytimes.com/...

Bloomberg 2022-02-04