Meta’s disastrous first year

Meta’s share price has tumbled 58% since its inception, the victim of publicity mishaps, buggy software, competition from TikTok for younger users, and general market turbulence
     

Oct 28, 2021: Facebook rebranded as Meta Platforms, to reflect CEO Mark Zuckerberg’s intention to develop metaverse*. Share price close: $316.92

Feb 2, 2022: Meta warns that Apple’s new privacy settings, which block ad tracking in its iOS system software, will hit revenue

July 27: Meta reports its first ever revenue decline

Aug 16: Online community ridicules Zuckerberg’s “creepy” new avatar – forcing him to change it days later

TUE FRI

Oct 7: Meta informs 1 million Facebook users their account credentials have been compromised. Share price close: $133.45

58% drop

$350
300
250
200
150
100
	Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 
	2021    2022


*Virtual reality space where users can interact with other people in computer-generated environment 

Sources: New York Times, Times, Business Insider, Yahoo! Finance 
Pictures: © Meta
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