“Meta shares plummeted 26%, equivalent to more than $200 billion of its market capitalisation. In terms of value, that was the largest ever single day fall by a US company,” Richard Hunter, Head of Markets at interactive investor explained, by way of context.
“There was no bounce at all, and the stock closed on the low of the day. This point is important as it points not to a ‘blip’ in the earnings but a fundamental re-rating of the stock price,” he explained.