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Meta's big plunge examined, Facebook parent company loses $230 billion market value in a single day

The 26.4 percent drop was the largest by a US company in a single day

February 04, 2022 / 01:14 PM IST
[Image Courtesy: Facebook/Mark Zuckerberg]

[Image Courtesy: Facebook/Mark Zuckerberg]

Facebook's parent company Meta has suffered a meteoric plunge of 26.4 percent, yanking other tech stocks down along with it. The decline erased $230 billion from the company's valuation in a single day, making it the biggest one-day loss for a US company.

Moneycontrol's Karunya Rao sat down with Vikas Gupta, CEO and Chief Investment Strategist for OmniScience Capital, and Madhuchanda Dey, Head of Research at Moneycontrol Pro, to figure out why it happened and what investor's can expect going forward.

Also Read: Meta, formerly Facebook, faces historic drop as stock tanks