Meta due to the collapse of stocks flew out of
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Meta due to the collapse of stocks flew out of the top ten companies

Meta Platforms has fallen out of the world’s 10 largest companies by market value due to the largest share decline in its history.

Image source: Bloomberg

Image source: Bloomberg

The formerly sixth-largest parent company in the world with a market value of more than $1 trillion closed at $565 billion on Thursday, falling to 11th behind Tencent Holdings Ltd. This was reported by Bloomberg.

Since peaking in September last year, Meta has lost more than $500 billion in market value. Shares of the company fell even more on Thursday after the release of a disappointing earnings report that showed flat user growth.

Image source: Bloomberg

Image source: Bloomberg

Meta’s losses from the share price decline exceed the market capitalization of all but eight companies included in the S&P 500 index.

Sixth in the ranking, previously occupied by Meta, is now Tesla Inc. with a market value of $906 billion, Berkshire Hathaway Inc. Warren Buffett is in seventh place with $700 billion, followed by chipmaker NVIDIA with 613 USD billion The undisputed leaders of the ranking are Apple and Microsoft with a market value of USD 2.8 and 2.2 trillion respectively.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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