Facebook Owner Meta Set for $195 Billion Wipeout, Biggest in Market History
Shares slump 22% premarket, dragging down Snap, Pinterest
Snap, Twitter, and Pinterest sink as Facebook parent Meta’s Q4 earnings shock hits social media stocks
Meta’s poor Q4 earnings triggered a slide in social media stocks, with Snap tumbling as much as 16.5%. Twitter fell 7%, and Pinterest lost 8.9%.
Shares in Meta,Facebook’s parent,fell over 20% in post-market trading after it gave a weaker-than-expected revenue forecast of $27bn-29bn for the quarter. Net income in Q4, 2021, $10.3bn, was down by 8% year-on-year as investment in the metaverse ate into profits.
Is Meta is on the verge of breaking a Long Term Landline ?
My Investment Notes 