Meta stock has crashed more than 50% from last year's trillion-dollar peak amid worry that the sun has set on Facebook's dominance of social media — for both users and advertisers alike. While Q1 earnings on April 27 seemed to rule out the worst-case scenario for Meta Platforms despite a revenue miss, the relief rally quickly faltered. Numerous Wall Street analysts still have 300+ price targets for Meta stock, which officially changed its ticker to META from FB as of June 9. Read More...
Reuters
Meta unfriends FB ticker in final farewell to Facebook era
Meta Platforms Inc rebranded from its eponymous social networking platform in October 2021, betting that the metaverse, a shared virtual realm, will succeed mobile internet. Mark Zuckerberg, Meta’s co-founder and CEO, established Facebook in 2004 from his Harvard dorm as a way for students to meet via the internet. Little did the then 19-year-old student know that Facebook would become integral to many people’s social life, with nearly three billion monthly users, and expand to include popular social media apps Instagram and Whatsapp in its universe.
Add Comment