Lost Meta, the owner of Facebook It is the largest social network in the world, and the owner of the “WhatsApp” instant messaging application, lost more than 61% of its market value in just 12 months, and within one week it lost 14% of its value.
According to what Al-Arabiya.net monitored, the “Meta” share closed at the end of Friday’s trading in the “Wall Street” markets at the level of $146.29, to have decreased by 14% during the week, and this is its lowest level since March 2020.
Thus, more than 61% of the company’s market value has evaporated, in just one year, and thus, “META” has captured the largest decline among major technology stocks and more than double the decline in the “NASDAQ Composite” index.
And “Meta” shares had slipped to this level in March 2020, when the first days of the announcement of the “Corona” epidemic caused a sharp decline in US stocks, and suffered sharp losses due to the announcement of closures that caused at that time a global wave of terror and fears of an economic collapse.
Western reports said that if the “meta” stock fell below $146.01, it would have breached its lowest level since January 2019, when “Facebook” was dealing with the repercussions of the big scandal called (Cambridge Analytica Scandal), which constituted a test heightened consumer confidence in the social media company and led to a series of heated Congressional hearings.
American reports say that Meta has in recent years been facing a lot of trouble, including the privacy update adopted by Apple, which constituted an obstacle to Facebook ads on iPhone phones, and the company is facing tough competition from the rising Chinese giant. TikTok, meanwhile, is facing fears that the economic slowdown will affect the advertisements it flocks to.