As shares of Meta-owned Facebook fell sharply by more than 26 percent on February 4, social media was inundated with posts on the share slide.
The Facebook share slide comes on the back of the social media company missing Wall Street earnings estimates and posting a weaker-than-expected revenue growth forecast in the next quarter.
There was a 25 percent drop in the share price of Meta at the start of trading on February 3. By the time the markets closed, Mark Zuckerberg’s Meta lost $230 billion in market value, the biggest single-day loss ever by a US company.
Also read: Facebook-owner Meta was popular stock for hedge funds before the slide
The drop in prices came after Meta -- the parent company of Facebook, WhatsApp, Instagram, and Meta Quest -- revealed its first-ever sequential decline in Facebook's daily active users. While this was the first drop in daily active users, a key growth metric, since the company was founded in 2004, Facebook remains Meta’s biggest app.
According to the company, its global daily users dropped from 1.93 billion in the third quarter of 2021 to 1.929 billion.
Also read: Data price hikes limited Facebook user growth in India: Meta
Alluding to an Italian opera, one user @DecentTrial wrote on Twitter:
“Just like Pagliacci did,
I try to keep my surface hid
Smiling in the crowd I try
But in my lonely room I cry
The tears of a clown”
Just like Pagliacci didI try to keep my surface hidSmiling in the crowd I tryBut in my lonely room I cryThe tears of a clown#facebookdown pic.twitter.com/3sPCFPBQiP
— Decent Trial Lawyer (@DecentTrial) February 4, 2022
Another user @Mohit_Gang tweeted:
“And the Tech carnage takes an ugly turn! Meta (Facebook) down some 25% in opening trade on back of disappointing results. Amazon slated to come out with results tonight as well.”
And the Tech carnage takes an ugly turn !
Meta (Facebook) down some 25% in opening trade on back of disappointing results.Amazon slated to come out with results tonight as well.#NASDAQ #Meta #facebookdown #StockMarket pic.twitter.com/ibvaTN3Z8m— Mohit Gang (@Mohit_Gang) February 3, 2022
After Meta said it’s taking a big hit from Apple’s privacy changes, one user @LINK1K wrote on Twitter:
“Can't believe Zuckerberg didn't blame "Climate Change" on the disappointing earnings.”
Can't believe Zuckerberg didn't blame "Climate Change" on the disappointing earnings.#ClimateHoax#facebookdown $FB
— Dr. $link1k2022