Facebook and Instagram parent company Meta saw its shares plummet to their lowest point in over a year on Wednesday after the company lowered its revenue forecast for the current quarter.
Meta shares were down 22.5% at around $250.45 in late trade Wednesday. The company’s shares haven’t traded that low since 2020, and the dip corresponds to about $200 billion being knocked off Meta’s market capitalization.
Shares of other tech firms including Apple, Google and Microsoft have had a rocky start to 2022 as investors prepare“it’s a black eye quarter,” Wedbush Securities managing director Dan Ives told The Post. “It’s a dark chapter quarter at a time when the bulls need to see good news.”
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