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Meta/Facebook 'faceplant' set to wipe out most equity value ever

Feb. 03, 2022 12:00 PM ETMeta Platforms, Inc. (META)TWTR, SNAP, PINS, BDNCEBy: Jason Aycock, SA News Editor238 Comments

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Facebook parent Meta Platforms (NASDAQ:FB) is down 25% off Wednesday's disappointing earnings report - erasing more than $220 billion in market value, the biggest single-day equity wipeout ever.

That's assuming that the decline holds, with volatility

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Comments (238)

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jadejet profile picture
I've been saying from the beginning that Facecrap started as nothing more than an app. Zuckster managed to raise a boatload of cash. It has been a great speculative trade for some but in the end, it is still facecrap and it's starting to show it. Meta is just a fancy name and concept that's going to burn a lot of cash with no promise of hefty returns in earnings whatsoever. Adieu Zuck.
04 Feb. 2022
blah blah blah every time FB has a big Drop. It'll be back at 300+ in no time. Easy money opportunity.
My take on this is that no matter what Zuckerburg tells you he is going to do whatever it takes to make him the most money. Changing the name of his company doesn't change the fact that he has no scruples. He came into prominence by stealing and publishing his college classmates private data. With Face Book came the ability to steal untold data and cash in on it. The Whistle blower is correct and the World knows it.

Before Face Book Capitalists all had their own web pages but when they saw they could get a lot more hits on Zuck's site they opted for what was best for business. Maybe he changed his name but he hasn't and you can't change a leopard's stripes. Businesses with integrity (those that are still left) have decided the time has come to part ways with this dangerous site.
Rwong8200 profile picture
FB invested heavily in Joe Biden $400 million to get out the vote or create the ballots. This is payback.
Chancer profile picture
The Zuck lost $31 B in net worth. That's what happens when you invest other peoples money in bad ideas. No worry. The Zuck can afford the loss. For his investors, not so good. The Zuck should have just invested in Amazon.
4316 is Support.
Sundance Utah profile picture
220 billion in market cap....evaporated. You go to bed at night and there is the 220 billion. You wake up in the morning and there is no more 220 billion.

I remember when a billion was a helluva lot of wealth. Now, billions and billions of notional wealth appears and disappears like like some flickering light, off today, on tomorrow.
@Sundance Utah 220 billion here, 220 billion there and pretty soon it adds up to real money.

SNAP was the real roller coaster. Down 24% in sympathy, then up 60% in after hours. Woof. The algos are crazy.
@Sundance Utah The $220B never existed ;) It is just a hypothetical worth.
Sergi Medina profile picture
@Sundance Utah “Evaporated?” Didn't that money go to the sellers?
YouGov current ratings on Mark Zuckerberg:

Fame (have heard of): 92%
Popularity (liked by): 19%
zoeshamu profile picture
@Russell's Decalogue It's like you're talking about Senator Joe Manchin ...
Zuckerburg doesn't have anything many other platforms offer only without the political BS and tons of censorship etc. It may take some time but nothing lasts forever and FB I think will be gone.
Karl Kelly profile picture
@D. Rockefeller I feel that Facebook was a better experience years ago. Now it is messy and annoying to use. I def use it far less than i did
I wonder if Priscilla Chan is getting ready to sell all her shares in Mark Zuckerberg.
BIZUN1973 profile picture
I’ve been calling Facebook Faceplant for years. People are finally catching up!
SNAP is the reason why FB crashed. SNAP to the moon
This record will soon be crushed as AMZN is to publish figures shortly...
wanster profile picture
@qwerty11 Looks like you were wrong ~
wanster profile picture
@qwerty11 Check the post earning after hours quote - up like $400 a share, or 14%. Did you mean AMZN might 'crush' the record to the upside?
Third Prize Is You're Fired profile picture
FB FCF in Q3 (Sep '21): $3.47/share
FB Share Price: $315 on 10/26/21 (Day After Earnings Report)
Analysts: "We reiterate FB stock as a 'Buy'."

Three months later...

FB FCF in Q4 (Dec '21): $4.48/share
FB Share Price: $236 on 02/03/22 (Day After Earnings Report)
Analysts: "Buy FB? Meh..."

So to recap...FCF/sh increased 29% Quarter over Quarter, FB is more attractively valued today, and Wall St. is a big ole "Meh" on it.


Long $FB/META and accumulating!
zoeshamu profile picture
@third Prize Is You're Fired I'm not a FB user - don't even have an account. I use my wife's if I need to, and agree with the above. Long $FB, this was a great time to step in for my own reasons.
oh no I am even after 1 year, and after a 200% runup.
pat45 profile picture
FB very cheap compared to SNAP, TWTR, PINS ect buy watching. This is a kitchen sink loss on huge volume 163million shares at 3pm
herohero profile picture
No sympathy. MySpace deserves more respect
CashFlow13 profile picture
@herohero I miss Tom!
zoeshamu profile picture
For the change in Apple's iOS change, it would be interesting to check to make sure there is no collusion between Apple and Google for adverts against FB. If there is even a possibility, hate to see what this can do both Google and Apple stocks. Don't believe there would be. But I would not put it past them.
I wouldn't count them out yet, metaverse might not be a big thing now but ya never know. Everyone running scared from earnings. I remember when tsla kept selling off and Everyone gave off the same exact sentiment. Fear, bankrupt, growth slowing. Not saying this could be the same but I wouldn't assume it's dying either because their still making more money and good margins, not like some other techs. Come reply back to me in 2 years and tell me if we were wrong.
Moats and Income profile picture
Meta face-plant….
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