Meta has disappeared from the list of the top 20 companies in the world

Decrease Finish came after Thursday 27 October its share price fell by almost 25 percent, reducing the market value of its shares by a quarter or about $ 65 billion.

Meta market cap is currently around $ 260 billion, making it the 27th most valuable company in the world. That’s way behind Apple at the top of the list, Tesla in sixth and Exxon in ten. It is also a significant drop from market capitalization, which was just under $ 1 trillion at the start of the year.

Decrease during the year by over 70%.

Meta shares fell to $ 97.36 on Thursday. after the company announced a second consecutive decline in quarterly revenues. The Meta share price has fallen approximately 71 percent this year.

Thursday’s drop in the share price came just eight months after Meta shares plunged 26.4% on February 3. It was the largest one-day loss in the history of an American corporation. Earlier, the company reported that for the first time in history, the daily number of active Facebook users had decreased. That fact alone wiped out $ 240 billion. from Meta Market Capital.

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The protracted fall of Meta’s share price in February pushed the company from the list of the world’s 10 most valuable companies.

This is not the end of the problems

Facebook’s parent company may face even more problems as it gave a poor forecast for the fourth quarter, warning of a decline in sales due to slowing digital ad spend. Investors and analysts are also cautious about the Zuckerberg metaverse, which is expected to bring even greater losses in 2023.

According to the Bloomberg Billionaires Index, Zuckerberg saw his wealth drop by 70%. Most of the billionaire’s wealth comes from 13 percent. shares in Meta.

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