Meta’s stock price plunges 25 percent overnight

Meta’s stock price plunges 25 percent overnight

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The price of shares in Meta — the parent company of Facebook, WhatsApp, Instagram, and Meta Quest (fka Oculus) — has dropped more than 25 percent from the previous day’s close, the morning after it revealed its first-ever sequential decline in Facebook’s daily active users. After closing at $323 Wednesday, they dropped as low as $238.90 before recovering slightly.

Image: Google

Bloomberg reports that the $200 billion plunge may rank as the biggest single-day drop in market value ever, as Meta struggles with waning relevance among young people and CEO Mark Zuckerberg refocuses its aim toward “metaverse” plans.

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