March 29, 2023
1028 meta connect keynote 2022 meta quest pro mark zukerberg 960

Meta shares fall below $100, hit new low since 2016

Meta released its third-quarter financial report on Wednesday (10/26), revealing that the company’s revenue declined for two consecutive quarters, and its operating profit shrunk by 45.5%, causing Meta’s stock price to drop 19.66% after the market that day to $104.3. It opened as low as $97.98 on Thursday (10/27) and closed at $97.94, a record low for Meta since 2016. From Wednesday’s close of $129.82 to Thursday’s $97.94, a 24.56% drop, Meta’s market value evaporated $89 billion in just one day.

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

View all posts by Ewen Eagle →

Leave a Reply

Your email address will not be published.