Meta CEO Mark Zuckerberg. Photo by Liu Jie\/Xinhua via Getty Meta stock slumped by 26.4% Thursday, meaning it shed nearly $240 billion in market capitalization. It marked the largest one-day value loss in US corporate history. Meta posted disastrous fourth-quarter earnings after markets closed on Wednesday. Meta on Thursday suffered the largest one-day wipeout in US corporate history after posting a shocking earnings report Wednesday. Its valuation slumped by nearly $240 billion as its shares fell 26.4%. After markets closed on Wednesday, Meta, formerly known as Facebook, said in its fourth-quarter earnings report that Facebook’s daily active user base shrank for the first time in its history . Meta also reported $10 billion in operating losses from its nascent metaverse business. Meta’s 26.4% stock slump Thursday left it valued at $661.4 billion compared with its $898.5 billion market capitalization when Wall Street closed Wednesday – a loss of $237.1 billion. Facebook previously held the record for the largest one-day loss<\/p>\n","protected":false},"excerpt":{"rendered":"
In its fourth-quarter earnings Wednesday, Meta said Facebook user numbers were down for the first time, as its metaverse business lost $10 billion.<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,24],"tags":[27,29,37,28],"class_list":["post-209645","post","type-post","status-publish","format-standard","hentry","category-news","category-stocks","tag-economy","tag-markets","tag-stock-market","tag-stocks"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/209645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=209645"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/209645\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=209645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=209645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=209645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}