Home
News
- Meta has lost a significant value in the company shares since January 2022.
- Mark Zuckerberg recently announced Meta Quest Pro headgear for metaverse.
- Meta stocks were trading at a market price of $99.2.
Depressing Times for Meta
Since Zuck Bucks has adjusted the mast of his ship towards metaverse, it’s not all beer and skittles for the organization. Meta stocks were trading as high as $350 during the beginning of the year, but the winds have changed and the funds are leaking like water from a massive hole. This has led company share prices to fall below a hundred bucks in a year.
One of the Major reasons for plunging Meta Stocks remains the massive funds Mark is throwing into the metaverse research and development. According to reports, he has spent a whopping $15 Billion for such initiatives in Reality Labs, R&D arm of the company. Another reason remains the Meta Quest Pro Headsets which many people are avoiding due to its expensive nature.
The company has failed to attract a lot of users on the Horizon Worlds platform. People reported that they were not able to find digital spaces they like or any like-minded people, rendering it as unfitting for them. In contrast to their current initiatives, the company has a larger user base on its social media platforms.
According to the latest reports, Facebook currently has a user count close to 3 Billion, followed by Whatsapp and Instagram with around 2 Billion users per platform. The company emerged in 2004 to become the greatest social media leviathan in just a few years, and has dominated the market since.
Their biggest rival, Twitter, was taken over by the Tesla CEO Elon Musk on October 28th 2022. He began a cold war against Twitter bots following the latest reports of the platform having over 66% bot accounts. Mark Zuckerberg can take a huge advantage to tighten his grip over the social media industry as Meta’s social networking apps still contain a large user base.
According to the latest financials, cash flow in the company has increased over the year, where cash from investing has gone down by 2839% and net cash has increased by over 200%. Quarterly revenues have plummeted from $28.82 Billion in June 2022 to $27.71 Billion in September 2022.
Looking at the present scenario, if Zuckerberg wants to “mark” a change, he needs to open both his eyes to see a clearer and wider picture. Many believe in his metaverse vision, but the bet has only taken the company to a sloppier path. The significant difference in Meta stock price from January 2022 to October 2022 is an indicator that the captain needs to adjust the ship’s mast again.
Meta Stock Price
The company has a market capitalization of $247 Billion, a loss of over $653 Billion since January 2022. Meta stocks were changing hands at a market value of $99.2 at the time of writing, an over 70% loss since the beginning of the year. The chart shows a downfall after Mark Zuckerberg announced the new title for his company.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
