Meta Suffers Record $237 Billion Market Cap Loss in U.S. History
Meta Platforms loses over $230 billion in market value overnight as investors react to a weak ad revenue forecast and growing competition from TikTok.
Meta Platforms experiences the largest one-day market cap loss in United States history as its stock drops 26.4% overnight. The social media giant sees approximately $237 billion in value vanish after warning investors about an upcoming slowdown in first-quarter ad revenue.
The historic plunge easily surpasses the previous U.S. record set by Apple in September 2020, when the iPhone maker lost $180 billion in a single day. Chief Executive Mark Zuckerberg personally feels the impact of the crash, which wipes out nearly $30 billion from his personal holdings.
Company executives blame the dire financial outlook on significant headwinds from Apple's iOS privacy changes and intense competition from TikTok. As users increasingly shift their attention to the short-form video app, Meta struggles to maintain its dominant position in the digital advertising market.