Meta to suffer biggest one-day loss in corporate history 4 months ago

Meta to suffer biggest one-day loss in corporate history

Mark Zuckerberg must be a little more squirrely than usual

It has been revealed that Meta is set to face the largest one-day loss in US corporate history as its value dropped by nearly $220bn.

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In mind-blowing earnings reports released on February 2, Meta's shares are shown to be down 24.4 per cent, reports Insider. By the time Wall Street began trading the following day, Meta had lost a shocking $220bn in value.

The company's fourth-quarter earnings report shows Facebook's daily active users shrank for the first time in its history, while also reporting $10bn in operating losses from the Metaverse.

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Meta Meta's shares are shown to be down 24.4 per cent/Via Getty

Meta's 24.3 per cent stock decline from February 3 indicates that the company was valued at $680.6bn compared with $898.5bn the previous day.

Ironically, Facebook held the previous record for the most significant one-day loss in history. In July 2018, they reported a loss of $119bn after stating a slowed growth in second-quarter earnings.

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This comes as a woman claimed she was "virtually gang-raped" in Facebook's Metaverse. Writing in a Medium post, Nina Jane Patel described the incident as a "nightmare."

She said: "Within 60 seconds of joining—I was verbally and sexually harassed—3-4 male avatars, with male voices, essentially, but virtually gang-raped my avatar and took photos."

The 43-year-old London-based mother added: "As I tried to get away, they yelled, 'Don't pretend you didn't love it' and 'Go rub yourself off to the photo.'"

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In response, a spokesperson for Meta told Vice News: "We want everyone in Horizon Venues to have a positive experience, easily find the safety tools that can help in a situation like this—and help us investigate and take action."

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