Meta’s Market Cap Lost About $237 billion, The Biggest One-Day Drop in the U.S. Stock Market History.
February 4, 2022

Meta shares plunged 26% overnight, and Meta's market cap lost about $237 billion (Rp 3.4 quadrillion) on Thursday (3/2). This is the biggest one-day drop for any company in the U.S. stock market history. The CEO of Meta, Mark Zuckerberg, lost about $30 billion (Rp 431 trillion) because of this drop.

The decline in Meta shares occurred after the company announced its earnings report for the 4th quarter of 2021. The report mentioned that the number of daily Facebook users fell for the first time. According to Facebook, the drop in user numbers was due to increased competition from TikTok. Moreover, data quota prices rise in India, the largest market for Facebook, also contributed to the shrinking number of active Facebook users.

Meanwhile, another point of concern to investors is the shift of Meta's focus to augmented reality (AR) and virtual reality (VR) as the basis for building a metaverse to attract the interest of young users. However, achieving this goal takes a long time and a high cost.

To put it into perspective, $237 billion is equivalent to around 1.03x of Nike's market cap ($229.77 Billion), about 1.97x of Boeing’s, and approximately 5.8x of Zoom’s.

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