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Green Crusading Facebook Stock Price Rises – Falling With That?


Guest essay by Eric Worrall

According to Zuckerberg, the problem is competition from TikTok, not growing disliking to an already awakened platform. moderate chats and remove law-abiding members with large followings.

Facebook loses $237 billion in biggest one-day stock market drop HISTORY: Zuckerberg warns employees he could CRY for ‘eye scratch’ as ​​shares drop 26% – drag Nasdaq down 3, 7% – and he was dropped from Forbes ten richest people after users dropped

  • Facebook’s plunging share price weighed on world markets on Thursday, dragging down major stock indexes
  • During a companywide meeting that same day, he showed up with red eyes and said he might cry from scratching his eyes.
  • He cited the ‘unprecedented level of competition’ from TikTok and asked staff to focus on the video
  • Shares of Facebook owner Meta fell 24% in morning trading following the company’s dismal earnings report.
  • The drop marks Facebook’s worst day of losses since its Wall Street debut in 2012.
  • The company’s overall value fell by $200 billion, a number larger than the entire Greek economy
  • Facebook CEO Mark Zuckerberg has $29 billion removed from his net worth

Via ADAM MANNO and KEITH GRIFFITH FOR DAILYMAIL.COM and WIRE
PUBLISHED: 03:28 AEDT, February 4, 2022 | UPDATED: 18:37 AEDT, February 4, 2022

Facebook CEO Mark Zuckerberg told his employees to focus on video products and warned he could cry from scratching his eyes during a virtual company-wide meeting on Thursday after the social media giant Association lost $237 billion – the largest single-day loss ever recorded.

Shares of Facebook owner Meta fell 26% on Thursday as markets closed, after the social media giant issued a dismal forecast and reported its first drop in active users. daily. Zuckerberg saw at least $29.7 billion removed from his account net value.

The tech giant was the world’s seventh-richest person on Wednesday, with a net worth of $113.1 billion. But when the market closed on Thursday, he quit Forbes‘the top 10 billionaires list – ranked 12th – as his personal net worth drops to $83.4 billion.

Zuckerberg told his employees that the drop was due to weak revenue forecasts as the company faces an “unprecedented level of competition” from TikTok, which is owned by Chinese company ByteDance.

The so-called FAANG group of Facebook, Amazon, Apple, Netflix and Google’s Alphabet saw some $400 billion in market capitalization wiped out in the first weeks of 2022 as cheaper market segments became attractive. leads while central banks ramp up stimulus.

Other social media stocks were also hit hard in pre-market trading on Thursday, including Twitter, Pinterest and Spotify. Spotify has been besieged by a flood of misinformation about COVID vaccinations and has also produced disappointing results.

Read more: https://www.dailymail.co.uk/news/article-10473475/Facebook-stock-plunges-24-rattling-world-markets-dragging-Nasdaq-2.html

Zuckerberg blamed China-owned TikTok. I have no doubt TikTok’s snappy interface is providing stiff competition with Facebook’s rather confusing ’90s green screen themed design.

But Facebook has also been doing its best to alienate most of their old audience, by censor or exclude people whose views Zuckerberg disapprove.

With a large portion of Facebook’s audience voting for or expressing support for the views Zuckerberg has targeted, as many of the targeted people or organizations have huge followings, there are no It’s no wonder why Facebook and other Silicon Valley companies have trouble with user engagement.

Even if Facebook realizes its mistake, it will be difficult to regain the trust of those it bullies and excludes. Reboot like GETTR, Parler, Gab and DuckDuckGo are busy seizing a piece of a huge market opportunity Silicon Valley incumbents were made of their own stupidity, and now have loyal followers of their own.

Sooner or later, the shareholders of awakened silicon valley companies will begin to demand real answers. Next time, it might not be so easy to delete questions with a glittery liner, like blaming it all on TikTok.

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