![]() The company’s second-quarter financial results were dismal, with reported revenue of $452m, down from $695m in the first quarter. According to the company: “The new ticker symbol aligns with the company’s rebranding from Facebook to Meta.” In May 2022, Meta Platforms announced it was changing its ticker symbol to ‘META’, replacing the previous ticker ‘FB’ which had been used since the company’s initial public offering ( IPO) in 2012. This was the first time that such a deceleration had occurred in many years, with shares falling more than 26%. The decline accelerated in November and peaked in February 2022 after management made downbeat comments about the company’s future growth, and after Meta Platforms reported a slight decline in Facebook’s daily active users (DAU) in Q4 2021. Meta Platform’s downtrend began in September 2021 when the pandemic tailwind that had lifted the business’s performance faded on the back of mass vaccinations. What should this social media stock expect, considering the current environment and the management’s plans to reshape its business model? In this article, we analyse the latest Meta Platforms stock news along with its price action and fundamentals to outline plausible META stock projections for 2022 and beyond. Meanwhile, macroeconomic conditions in the US have worsened amid a high inflation rate of 8.2% which has prompted a risk-off attitude among market participants. Meta Platforms, formerly known as Facebook, has cited multiple headwinds that could negatively affect the business’s financial performance in the near term, including changes to Apple’s iOS privacy features and increased competition from other platforms such as TikTok and Snapchat. The stock’s losses have mirrored those of the tech-heavy Nasdaq 100 ( US100) index, with confidence in tech markets having plummeted and Meta’s drastic pivot toward the metaverse having concerned shareholders. As of 2 November 2022, stock is changing hands at $92.77. After a mass sell-off in late October, stock sank 24% to the lowest price since 2016. ![]() Meta Platforms’ (META) stock performance has seen little respite in the bearish environment so far this year. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Will META prevail against current headwinds? – Photo: Jirapong Manustrong/ You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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