Meta Platforms was the first public company to lose more than $200 billion in market value in one day.
Meta suffered the record one-day decline on February 3, 2022, when its share price fell sharply after disappointing user-growth figures and a weak outlook. The drop erased more than $200 billion from the company’s market capitalization.
The fall was connected to Facebook’s first reported decline in daily active users, increased competition from TikTok, and concerns about advertising performance. Meta’s market value had been calculated from the price of its publicly traded shares, so the loss represented a change in investor valuation rather than cash physically leaving the company.
Meta Platforms changed its corporate name from Facebook to Meta in October 2021. The rebrand emphasized the company’s ambitions in virtual and augmented reality, while Facebook remained the name of its social-networking service.