Why doesn’t it stop falling?
While 2022 has not been positive for listed companiesthe value of Facebook has doubled compared to what has fallen in the year the price of other large technology companies, such as Google (-31 percent), Amazon (-31 percent) and Microsoft (-30 percent), and triples 21 percent in which the price of Apple has dropped.
On June 28, 2021, Facebook joined the select group of the previous four companies that had a market capitalization greater than $1 trillion. Today the company and its CEO, Mark Elliot Zuckerberg, have less than half the wealth they had just 15 months ago.
Nevertheless, Facebook is among the hardest hit: It is among the six companies with the greatest losses in the United States stock market andn its lowest point since January 2017.
It loses revenue, also for the first time in its history: Meta, the parent company of Facebook, reported revenue of 28.8 billion dollars in the second quarter of this year, a drop of 1% compared to the same quarter of the previous year, which was its first year-over-year drop in revenue since it went public ten years ago, in May 2012.
There have been several episodes that Facebook has faced to guarantee the safe use of its users’ data and the veracity of the information it publishes.
The Cambridge Analytica scandal is without a doubt, to date, the biggest problem of security, credibility and trust in the history of the company, since data from up to 87 million users was collected without the consent of users and used in campaigns policies of Donald Trump and Ted Cruz in 2016.
Source: Ambito
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