Meta is trading at its lowest stock value since 2019, advertisers are dropping spending, and users are leaving its platforms.
It doesn’t look good for Meta as the company is trading at its lowest stock value since 2019, advertisers are dropping spending, and users are leaving its platforms., Meta is in dire straits as it stock ended the week down again and is currently trading at lows it has not seen in years. Only four stocks in the S&P 500 have it worse than Meta and it’s not clear if the company is capable of pulling itself out of the mess.
Just a year ago, the company’s value peaked and since then it has been nothing but downhill as CEO Mark Zuckerberg has lost billions of dollars chasing his metaverse at the same time the flagship social networks, Facebook and Instagram, have been struggling. Facebook in particular is having a rough go, and some analysts say that they aren’t even sure what Facebook’s core business is anymore — or if it even has one.
Even those who aren’t as doom and gloom about Facebook’s prospects — it has seen an overall global gain in users despite a fall in U.S. and Canadian users — aren’t sure if Facebook will be relevant to the next generation of users. Looking at the seemingly unkillable growth of rival TikTok, that assessment seems fair.
Facebook was especially hurt by the 2021 iOS privacy update that prevented Meta from targeting users with ads, which
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