Meta's stock price has plummeted by more than 60% this year! Zuckerberg's net worth plummeted after Facebook changed its name

It is learned that Meta's stock fell below its historical low since March 2020 last week. On September 16, the stock price fell by 14% to close at $146.29, and the annual decline was more than 60%. This is the stock with the largest decline among technology giants, and the Nasdaq Composite Index has fallen by more than double.

Meanwhile, the tech company is trading just 28 cents above its closing price on March 16, 2020, when the coronavirus pandemic slammed the U.S. stock market. Once Meta’s stock price falls below $146.01, it will break through its lowest level since January 2019.

Since Mark Zuckerberg officially changed the company's name to Meta in October 2021, it seems that various challenges and problems have come one after another. For example, the privacy update of Apple's iOS operating system made it difficult for Meta to target ads, and the popularity of TikTok also snatched Meta's users and advertisers.

In addition, Zuckerberg has to deal with a slowing economy and inflation, which has led many companies, including Meta, to minimize online marketing expenses. Despite the challenges, Facebook's active user base in the United States increased slightly by about 1% in the second quarter.

Meta reported in July that it expects Q3 sales to decline consecutively after Q2 earnings fell short of expectations. According to Refinitiv data, Q3 revenue will be between $26 billion and $28.5 billion, lower than the average analyst estimate of $30.5 billion. This means that the expected value will be down 2% to 11% from a year ago.

Editor ✎Estella/

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