Meta Platforms suffered the largest single-day market-value loss then recorded, losing about $237 billion in February 2022.
On February 3, 2022, Meta’s shares fell sharply after the company reported weaker-than-expected user figures and warned about competition, privacy changes, and advertising pressure. The decline erased roughly $237 billion from its market capitalization in one trading session.
The result was a dramatic reversal for a company that had crossed the $1 trillion valuation mark only months earlier. Meta’s name change from Facebook, Inc. to Meta Platforms had taken place in October 2021, as the company emphasized its plans for the metaverse.
Market-capitalization losses are calculated from the change in share price multiplied by the number of shares outstanding. They do not mean that an equivalent amount of cash left Meta’s bank accounts. The figure represented a change in what investors were willing to pay for the company’s shares.