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United States Facebook Parent Meta’s Stock Plunges, Loses More Than $200 Billion in Value
The technology giant was on course for its worst daily performance on record after it startled investors with a sharper-than-expected decline in profit and a gloomy outlook.
Shares of Facebook parent Meta Platforms Inc. plunged Thursday, wiping about $232 billion from the technology giant’s market value, the biggest one-day decline for a stock in U.S. history.
The company startled investors late Wednesday with a sharper-than-expected decline in profit and a gloomy outlook. That pulled Meta’s shares down 26% Thursday to close at $237.76, its steepest one-day decline since it started trading in 2012.
