Popular leftist social media site Facebook lost $200 billion in market value on Thursday as its parent company Meta took a huge tumble in the Stock Market on Thursday. The sudden big loss made headlines worldwide.
Facebook Wounded by Financial Bullet
Daily Mail reported on Thursday (February 3) that Meta shares fell by nearly 25%, wiping some $200 billion from the market value of Facebook. The plunge was apparently the result of investors’ fright following a negative trading forecast. The paper wrote:
Shares in Facebook owner Meta plummeted over 20 per cent in US pre-market trade on Thursday, after the social media giant issued a dire forecast blaming Apple’s privacy changes and mounting competition.
The story cited Victoria Scholar of Interactive Investor telling that “Facebook has fallen out of favour with investors” and that it faces a “hard graft ahead.”
Marc Zuckerberg Loses Billions in Personal Wealth
A BitChute video claimed that the financial hit the company took on Thursday has led to over $29 billion loss to Mark Zuckerberg’s personal wealth.
Yahoo News featured a People magazine story that predicts the possibility of Zuckerberg dropping out of Bloomberg’s Top 10 Billionaires List after losing $31 billion. Currently, he is No. 10 on the list at a net worth of $89.6 billion.
Facebook has a long history of censoring free speech, blocking and banning conservatives and independents speaking against liberal political and cultural agenda. Most recently, it removed the page organizing a protest of truckers against vaccine mandates in the U.S. after the immense pubic popularity of truckers’ convoy in Canada.
Red Flag for Tech
In wake of the latest financial setback to Meta, experts eye red flags for other major tech companies. Daily Mail cited Russ Mould, investment director at AJ Bell, telling that Netflix and Meta have both disappointed now and that can mean similar outcomes for Amazon, Apple, Alphabet, and Microsoft – all four also part of the so-called MAANAM group of tech.