Skip to content

Subscriber Only

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

Bloomberg business news — Facebook Forecast Falls Short, Shares Sink

By

Thyagaraju Adinarayan and

Jan-Patrick Barnert

February 3, 2022, 9:48 AM UTCUpdated onFebruary 3, 2022, 10:12 PM UTC

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.