Facebook investors are in a world of hurt after the share price of its parent company, Meta, dropped 20% yesterday in after-hours trading. That share plunge has slightly worsened today, with Facebook shares down over 22% in pre-market trading at the time of this writing.
Full Answer
What happened to social media stocks Thursday after Facebook plunged?
Other social media stocks were down Thursday following Facebook’s plunge. Shares of Snap were down more than 23% Thursday prior to its earnings report after the bell. Pinterest shares lost more than 10% and Twitter shares were off more than 5%.
How much did Facebook's stock drop after its earnings?
The company's shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline in market capitalization in history, exceeding Intel's $91 billion single-day loss in September 2000, according to Bloomberg data.
Why is Mark Zuckerberg selling so much Facebook stock?
Zuckerberg began consistently selling Facebook stock in 2016, the year after he and his wife Priscilla Chan established CZI. At the time, the couple penned a letter to their unborn daughter, pledging to give 99% of their Facebook shares over their lifetimes toward areas such as education and curing diseases; the shares were worth $45 billion then.
Is Facebook's stock still a buy after the Cambridge data scandal?
At that time, the stock was still recovering from an earlier battering over a major privacy scandal. Facebook is hardly a stranger to a volatile stock price and has rebounded from previous mishaps, including Cambridge Analytica. While several analysts downgraded the stock, others say they still have faith in the company to grow over the long-term.
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Did Facebook ever split their stock?
Has FB Ever Split its Stock? No, it has not.
What was Facebook's opening IPO price?
Shares closed higher than $38 that first day, at $38.23, but plunged more than 10% the following day and failed to touch the IPO price again for more than a year.
Why has Facebook share price dropped?
Shares of Facebook parent Meta plunged Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. The company blamed privacy changes to Apple's iOS and macroeconomic challenges weighing on advertiser budgets. Other social media stocks were down Thursday following Facebook's plunge.
What will FB be worth in 10 years?
According to the latest long-term forecast, Facebook price will hit $200 by the end of 2022 and then $300 by the end of 2023. Facebook will rise to $400 within the year of 2025, $500 in 2026, $600 in 2028, $700 in 2031 and $800 in 2034.
Was Facebook IPO a success?
With an IPO of $38 per share in May 2012, the company initially appeared to be a flop closing at $26.25 one year on in May 2013. However, by December 2013 the company closed at $48.22 and has been on an upward trajectory ever since, opening 2020 with a stock price of $206.75.
Is Facebook a good stock for 2021?
What the Analysts Say. Of 44 analysts covering Facebook in February, 17 rate the stock a “strong buy” and 24 rate it a “buy,” according to Yahoo Finance. That's down from January 2021, when 18 rated it a “strong buy” and 30 rated it a “buy,” but analysts see Facebook's current troubles as temporary.
Is FB a good buy now?
FB's Global Reach is Still Massive Meta's 2021 revenue jumped 37% YoY to $118 billion and its adjusted earnings came in 36% higher. Looking ahead, Zacks estimates call for FB's revenue to pop 10.4% in FY22 and another 18% in FY23, both of which mark FB's slowest YoY growth as a public company.
How much money did Mark Zuckerberg lose today?
All in a day: Mark Zuckerberg loses $29 billion, Jeff Bezos set to pocket $20 billion.
What happened
Shares of Facebook ( FB -0.75% ) are up a modest 2.5% in 3:25 p.m. EDT trading Friday -- which may not sound like much, but on a $1 trillion dollar stock, it equates to an additional $21.2 billion in market capitalization. (For context: If Twitter moved that much in a day, its stock would be up 41%!)
NASDAQ: FB
Horizons Workrooms, an "online space for virtual reality meetings that has been developed by a group at the company's London offices" is the product of a "billions of dollars a year" multi-year investment by Facebook to create a "metaverse" in which people can interact outside of the real world.
Now what
And this may only be the beginning. According to Facebook CEO Mark Zuckerberg, Horizons may well be the first step toward Facebook's transformation from a mere " social media " company like Twitter or Snap, into a "metaverse company" of its own making.
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How much did Facebook lose in one day?
Facebook stock suffers largest one-day drop in history, shedding $119 billion. Facebook lost about $119 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. The company's shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. ...
How much did Mark Zuckerberg lose?
Founder and CEO Mark Zuckerberg saw his fortune drop by $15.9 billion to roughly $71 billion. His personal loss alone, if only on paper, exceeds the value of companies such as Molson Coors and Macy's, which have market values of $14 billion and $12 billion, respectively.
How much has Chan Zuckerberg sold?
Overall, he’s sold 9.4 million shares, worth $2.8 billion, over the past eight months through Wednesday. About 90% of the sales were made by his philanthropic and advocacy organization, the Chan Zuckerberg Initiative (CZI).
How much is Mark Zuckerberg worth in 2020?
Since November 9, 2020, the Facebook cofounder and CEO, who is worth $127 billion, has unloaded shares nearly every business day, according to filings to the Securities and Exchange Commission.
How much money did CZI donate to California?
According to data from the Center for Responsive Politics, CZI Advocacy has contributed $17.8 million to left-leaning ballot initiatives, mostly in California, since 2018.
How much money has CZI invested?
CZI has awarded $2.9 billion in grants and invested $150 million into for-profit ventures since 2015, according to its website. (The rest of the proceeds are likely invested elsewhere by CZI as well as being used to fund the organization, which has more than 200 employees.)
How much land did Mark Zuckerberg buy?
Zuckerberg spent more than $100 million in 2014 to purchase 700 acres of land on the Hawaiian island of Kauai, then added another 600 acres this May for $53 million, according to a report from Mansion Global. Follow me on Twitter . Send me a secure tip .
Did Zuckerberg stop selling?
A spokesperson for the Chan Zuckerberg Initiative did not explain why Zuckerberg stopped and then resumed selling one year later, but said that his sales are conducted through pre-determined plans filed to the U.S. Securities and Exchange Commission.
Has Mark Zuckerberg sold Facebook stock?
Mark Zuckerberg Has Sold Facebook Stock Almost Every Weekday This Year. Facebook CEO Mark Zuckerberg last week in Sun Valley, Idaho. After a year during which he didn’t let go of any Facebook stock, Mark Zuckerberg is back to his selling ways. Since November 9, 2020, the Facebook cofounder and CEO, who is worth $127 billion, ...
Investors are excited about the social media giant's push into e-commerce
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What happened
Shares of Facebook ( NASDAQ:FB) jumped 8.2% to a new closing high of $303.91 on Wednesday, after analysts helped to focus investors' attention on the digital ad titan's massive growth opportunity in e-commerce.
So what
On Tuesday, UBS analyst Eric Sheridan reiterated his buy rating on Facebook's stock and boosted his price forecast from $242 to $330. Even after today's move, Sheridan's new target price represents potential gains for investors of roughly 9%.
Now what
Facebook is already benefiting from the rise of e-commerce, as many online retailers spend heavily to promote their wares on its social media networks. But Facebook is taking steps to make it easier to make purchases directly from its social media sites, and, in the process, claim a larger share of the online retail industry's profits.