According to Reuters on February 3, the stock price of meta universe platform, the parent company of Facebook, plunged 26% on Thursday, the largest one-day decline in the market value of American companies. Previously, the social media giant released disappointing performance expectations and blamed it on changes in Apple's privacy policy and increased competition.
poor performance
According to the report, the decline in the share price has evaporated the market value of yuancosmic platform company by more than 230 billion US dollars, reduced the net assets of CEO Mark Zuckerberg by about 29 billion US dollars, spread to a wider technology industry and dragged down the NASDAQ index.
The report also said that this is also the worst one-day performance of the company since its listing on Wall Street in 2012.
Laura Hoy, a stock analyst at Hargreaves Lance, a British stockbroker, said: "Mark Zuckerberg, chief executive of the yuan universe platform company, may be keen to deceive the world into another reality. But the disappointing performance of the fourth quarter of 2021 has quickly destroyed the yuan universe bubble."
Investors expect that after interest rates remain ultra-low for many years, once the Fed tightens policy, it will affect the high market value of the technology industry. In this context, large technology companies in the United States will face increasing pressure in 2022.
Kenneth Blu, strategist at French Industrial Bank Co.Ltd(601166) in London, said: "the market was surprised by the lower profit expectations of yuancosmic platform and other companies. The selling wave of technology stocks spread to the broader stock market this morning. We may see more volatility in the market as the Federal Reserve prepares to raise interest rates."
