Meta’s Stock-Market Wipeout Is Unmatched in the Megacap Era
- Shares are down more than 45% from a peak hit in September
- The stock is the cheapest it has ever been by some metrics
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Over its life as a publicly traded company, Facebook parent Meta Platforms Inc. has repeatedly demonstrated an ability to rebound after earnings disappointments or various controversies have weighed on the stock. Not this time.
The shares are coming off their lowest close since May 2020, and are down more than 45% from a September peak, a decline that’s unmatched among big U.S. tech stocks in recent years. The slump has pushed Meta out of the top 10 of largest global companies by market value, yet also left it trading at its cheapest on record.