Meta or FB is going through a bad phase as things are not looking rosy for theSocial media provider which was all-powerful till now. 2022 may prove to be a tougher journey for them as things seem now . In addition to the massive drop in the daily active users that occurred a few days ago, the company has now suffered another major setback. Facebook’s market capitalization has been decreasing continuously and has now reached such levels that it has fallen out of the top 10 companies based on market capitalization.
Top 6 once:
For the last few days, the shares of IT and tech companies have been declining continuously on the US stock market. The shares of Meta Platform Inc, the parent company of Facebook, are also falling sharply during this time. Since the company’s market cap has dropped so much, it can no longer be considered a top-10 company, while Facebook was included in the top-6 companies in terms of the market cap until a few years ago. In terms of market capitalization, Meta’s market cap fell to $565 billion after the closed market on Thursday and it was no longer one of the 10 largest companies. As a result, the company ranks number 11.
According to the statistics, the company’s market capitalization is half what it was in September. The company’s stock was very popular until September 2021. Last year, the company changed the name of Facebook, but now it is in trouble because of the number of daily active users and the market capitalization.
The report stated that the current market capitalization of Apple is $ 2.8 trillion, Microsoft is second with $ 2.2 trillion, and Saudi Arabian oil company Aramco is third with $ 2 trillion, $ 1.8 trillion. Alphabet, Google’s parent company, is ranked fourth by market cap, while Amazon is in fifth place with a cap of $1.6 trillion.
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