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Meta Loses Top-10 Ranking by Market Value Amid Worst Month Ever

  • Social media company falls behind Tencent in value ranking
  • Facebook parent has lost $513 billion in market cap from peak
Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in Oct. 2021.

Mark Zuckerberg speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in Oct. 2021.

Photographer: Michael Nagle/Bloomberg

Meta Platforms Inc. has tumbled out of the world’s 10 largest companies by market value, hammered by its worst monthly stock decline ever.

Once the world’s sixth largest company with a valuation in excess of $1 trillion, the Facebook parent closed on Thursday with a value of $565 billion, placing it in 11th place behind Tencent Holdings Ltd., according to data compiled by Bloomberg.