Meta is in freefall, users are leaving

Meta

Nothing is looking good for Meta, as the company is trading at its lowest stock value since 2019, advertisers are cutting spending, and users are leaving its platforms.

The meta is in deep trouble as its stock ended the week down again and is currently trading at lows not seen in years.

Only 4 stocks in the S&P 500 are worth less than Meta, and it’s unclear if the company is capable of extricating itself from this mess.

Just over a year ago, the company’s value peaked and since then it’s been nothing but downhill as CEO Mark Zuckerberg has lost billions of dollars pursuing his metaverse at the same time as social media giants Facebook and Instagram. , have had difficulties.

Facebook in particular is having a tough time, with some analysts saying yesterday that they are no longer sure what Facebook’s core business is — or if it even has one.

Even those who aren’t so doom and gloom about Facebook’s outlook — even though the social network has seen an overall global rise in user numbers, despite a decline in US and Canadian users — aren’t sure if Facebook will be relevant to the next generation of users.

But looking at the growth of rival TikTok, growth which is seemingly unattainable, this assessment seems to be correct.

Facebook was particularly hurt by iOS’s 2021 privacy update, an update that prevented Meta from targeting users with ads, costing the company a €10.1 billion loss in overall profits this year.