Facebook’s value drops by more than $200 billion after earnings miss
Meta, the parent company of Facebook, Instagram, and WhatsApp, suffered the largest single day loss in value in history
The personal loss for Mark Zuckerberg is enormous, at $25 billion (€22 billion) but that pales in comparison to the financial and reputational hit taken by Facebook today. The company, which rebranded to Meta last year to reflect its focus on metaverse technology, lost more than $200 billion (€175 billion) in value as trading opened in New York. It is the largest single day loss, in terms of dollar value, by any company in history.
