$META, formerly known as Meta Platforms, experienced a significant drop in market cap following its earnings report. The stock lost around $250 billion in market value, marking one of the largest single-day losses in history. This decline comes after the company had previously set records for both gains and losses in market cap. Pre-market trading indicated a potential $176 billion loss, adding to the overall market cap volatility of the company. This marks the third time since 2018 that $META has faced such a substantial market cap decline in a single day.
$META META STOCK DROP ERASES MORE THAN $190 BILLION IN MARKET VALUE
Today is set to be the third time since 2018 that $META will lose over $100 billion in market cap in a single day. https://t.co/9CynLzGE00
At -14% pre-market, Meta $META is set to wipe out $176B in market cap, its second largest single-day drop since it wiped out $251B in February 2022. It’s also only $20B shy of Meta’s post-Q4 earnings gain of $197B in February this year. https://t.co/fZsY7UdYRE
$META has lost around $250B in market cap after-hours, the biggest single-day loss EVER (and on a double earnings beat) Guess who had the previous record? That's right, it was Meta in 2022 They also had the highest single-day gain this past February, jumping up around $200B https://t.co/HiuJLygl3j
$META was trading at $510 yesterday. It's trading at $410 today after earnings, down 17%. This move constitutes a one-day loss of nearly $250 billion in market cap, which would be the worst single-session value loss of any stock ever.