Meta Platforms suffered a record US$232 billion one-day market-cap loss in 2022.
On February 3, 2022, Meta Platforms’ shares fell sharply after the company reported weak user-growth signals and issued an outlook that disappointed investors. The decline erased roughly US$232 billion in market value in a single trading session.
At the time, Meta was facing competition from TikTok, changes to mobile advertising measurement, and heavy spending on its long-term metaverse strategy. The result was one of the largest single-day losses in stock-market history for any company.
Meta Platforms was called Facebook until a corporate rebrand in October 2021. Facebook remains the name of one of its social networks, while Meta describes the parent company and its broader family of products, including Instagram and WhatsApp.