Meta is Down - What Happened?
The share of "Meta", the owner of the Facebook platform, fell by 25.9% at $239.27 during trading today, Thursday, recording the largest daily drop in its history, after recording $237.07 in early trading, according to foreign and Arab agencies.
Reasons for the sharp drop in Facebook's meta share by 26%
"Meta" stock fell by about 26% during Thursday's trading, which is its largest drop ever, after the social media company announced its disappointing quarterly earnings, according to the Saudi Numbers Agency.
The results of the business of the company that owns the “Facebook” platform revealed that the net profit amounted to 10.285 billion dollars during the fourth quarter of last year, compared to 11.219 billion dollars in the comparison period one year ago.
Earnings per share amounted to $3.67 during the period between last October and December, which was less than expectations that it had been indicating to record $3.84.
According to Meta's forecasts, revenues are likely to be recorded in the first quarter of this year, ranging between 27 billion and 29 billion dollars, which is less than the expectations of analysts who were referring to 30.1 billion dollars.
The world's biggest long range interpersonal communication stage "Facebook" saw the portions of its parent organization "Meta" drop by over 26% during the previous exchanging meeting.
At the same time, cryptographic forms of money connected to metaverse have ascended throughout the most recent week.
FB stock is down over 22% during the previous exchanging meeting.
The normal stock was no in an ideal situation as the stock lost an aggregate of 26.39% in the beyond 24 hours, clearing out more than $200 billion off of its absolute market esteem.
With respect to the justification for the decrease, it stayed concealed in the Meta monetary report for the final quarter of 2021.
The archive uncovered that Facebook saw a lessening in the quantity of day by day dynamic clients (DAU) interestingly, and apparently the business sectors rushed to react.
Meta likewise discounted $10 billion as consumptions on metaverse research were uncovered in the final quarter of 2021.
Strangely, cryptographic forms of money connected with metaverses, for example, SAND and MANA have been on the ascent throughout the course of recent days.
In the previous week, the cost of the advanced money "MANA" expanded by practically 20%, while the cost of SAND rose by 7.5%.
The current part in the presentation cycle of Facebook's stock and meta-monetary forms is fascinating given the speeding up occasions of the past.
Last year, when Mark Zuckerberg uncovered that the organization would rebrand to Meta with an end goal to drive the advancement of related computerized tokens, the worth of cryptographic forms of money having some expertise in metaverses soar.
