Meta’s Stalled Growth Separates It From Megacap Pack
- Meta has lost nearly a third of its value after earnings
- Stock is by far worst performer among megacap tech companies
Signage in front of Meta Platforms headquarters in Menlo Park, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Investors have long looked at Facebook’s owner as part of a cohort of dominant technology companies that stood apart from the rest of the universe. After last week’s disastrous earnings report, Meta Platforms Inc. is struggling to keep up with those other Silicon Valley giants.
The Mark Zuckerberg-run company has seen more than $300 billion in market value wiped out in 2022 alone. Facebook’s user growth has stalled in the face of competition from viral video-sharing app TikTok at a time when the company also is spending billions to try to expand in immersive digital experiences.