Meta’s challenges are mounting and investors continue to bail.
Meta shares dropped below the company's pandemic nadir during the day on Friday and are down more than 60% for the year.Facebook hasn't been this cheap since the beginning of the pandemic.are at their lowest since March 2020, and for a period on Friday were trading even below that point. Meta has lost 61% of its value this year, by far the biggest slide among Big Tech stocks and more than double the drop in the Nasdaq Composite.
In sliding for five straight days, Meta is now trading just 28 cents above its closing price on March 16, 2020, when the early days of Covid-19 sent U.S. stocks reeling.
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