Meta News: This year seems to be proving to be very bad for Meta and for Facebook founder Mark Zuckerberg, the year 2022 is proving to be reducing his wealth. Just yesterday, there was a strong fall in the shares of Meta, which is the lowest price of its shares since the year 2016. Due to the company’s poor quarterly results this week, there was a tremendous fall in the shares of Meta and they were trading with a tremendous fall of up to 25 percent in the US stock market. On Thursday, Meta’s shares went below $100 per share, which became a matter of panic among its investors.
Metaverse did not yield expected results
Mark Zuckerberg, the head of Meta, started his dream project Metaverse in a big way, but its results are proving to be bad and investor confidence is continuously decreasing. In the recent quarterly results, both the company’s profit and earnings have come down strongly, due to which the shares of Meta saw a strong fall of up to 25 percent yesterday.
The company’s condition deteriorated due to the fall in the shares of Meta
Talking about the current state of Meta, since the golden days of Facebook, its condition has now been battered. The value of the company has declined by 70 per cent this year and its value has come down 74 per cent from the top of the stock in September 2021. Overall, its market cap has fallen by $ 730 billion. These have also come down from the lows of the year 2016 when its shares had a big fall.
Meta out of America’s top 20 richest companies
Meta is now out of America’s top 20 richest companies and this is a big blow for it. Last year it was included in the top 5 valuable companies in America and its market cap was more than 1 trillion dollars. At the same time, now the net worth of the company has come down to $ 270 billion and is out of the list of top 20 valuable companies.
Mark Zuckerberg’s wealth also fell drastically
Meta CEO Mark Zuckerberg’s wealth has also declined drastically and he has gone out of the list of the top 20 richest people in the world. At present, Mark Zuckerberg is the 23rd richest person in the world, who was once in the top 3.