Meta's stock has fallen by about 70%. It's now worth around $270 billion, roughly a third of its market capitalization of just under $900 billion a year ago.
Meta's tumble in share price on Thursday was the market's reaction to news that a slowdown in digital advertising, new security protocols on Apple devices and a bet on the metaverse have all hurt the Facebook parent's bottom line. In particular, investors have criticized Meta CEO Mark Zuckerberg, seen here, for spending big on the metaverse.Michael Nagle/Bloomberg via Getty Images
At market close on Thursday, shares in the tech company had fallen nearly 25%, selling for under $98 apiece, a level not seen since 2016.. It's now worth around $270 billion, roughly a third of its market capitalization of just under $900 billion a year ago. "I think that our work here is going to be of historic importance and create the foundation for an entirely new way that we will interact with each other and blend technology into our lives," Zuckerberg said on a call with investors Wednesday.