Facebook suffers biggest drop in Wall Street history

Facebook’s parent company, Meta, suffered a violent plunge on Thursday on the New York Stock Exchange, setting the biggest single-day drop in history on Wall Street for an American company.

 

The famous social network Facebook announced that it has lost users in North America for the first time in its history, and was blaming Wednesday, after the close, for a falling profit in the fourth quarter and a slowed growth outlook in the first. Indeed, its quarterly earnings were down 8% year over year. The stock of Meta Platforms, parent company of Facebook, tumbled 24% to 245 dollars, dragging the Nasdaq index (-2.14%) in its fall.

 

[…]

This article is reserved for subscribers.

Subscribe now !

Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

Featured photo : © D.R.

Tags

Hélène Cougot
Hélène Cougot
Passionate about art and fashion, Hélène went to a fashion design school: the Atelier Chardon-Savard. She then completed her training with an MBA in Marketing at ISG. She has written for the magazine Do it in Paris and specializes in writing articles about luxury, art and fashion for Luxus +.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Unlimited access to luxury news.

Discovery offer 1€ for 1 month!

Luxus Plus Newsletter