Facebook's parent company, Meta, saw its stock drop over 26 percent when the closing bell rang on Wall Street on Thursday.
The online rhetoric surrounding Facebook lately has been one of general disdain, and Facebook has reportedly lost half a million daily users in the last three months. The app's parent company, Meta, saw its stock drop over 26 percent when the closing bell rang on Wall Street on Thursday. According to, should the trend continue, the company's total value is on pace to lose nearly $200 billion.
Meta's Chief Financial Officer Dave Wehner told analysts that"competitive services are negatively impacting growth, particularly with younger audiences." told AFP News. He stated that this has caused them to shift their focus to make the aspect of Reels more prominent on Meta apps.
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