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Meta Erases $251 Billion in Value, Biggest Wipeout in History

  • Shares slump 26%, dragging down Snap, Pinterest, Twitter
  • Wall Street cuts price targets on Meta shares after earnings
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Facebook Forecast Falls Short, Shares Sink
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Meta Platforms Inc.’s one-day crash now ranks as the worst in stock-market history.

The Facebook parent plunged 26% Thursday on the back of woeful earnings results, and erased about $251.3 billion in market value. That’s the biggest wipeout in market value for any U.S. company ever.