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Facebook stock price software#
Prior to that change, Facebook had made extensive use of tracking software to deliver targeted advertising to its users - something its advertising clients were willing to pay a significant premium for. Last year, Apple changed the privacy setting on its iPhones and other devices, requiring apps, including Facebook, to get each user’s explicit permission to track their activity on the internet. The stagnant user figures raised concerns about the company’s ability to grow even as more bad news poured in from its advertising business, which generates the overwhelming majority of the company’s profits. Additionally, in its key North American market, Facebook saw monthly users decline slightly. The share price began its tumble after the company announced for the first time ever that its total number of monthly users had not risen in the fourth quarter of 2021. The 27% decline in the company’s share value translated into a loss of more than $230 billion in market value, an utterly unprecedented one-day loss for a single firm. The company’s shares, which were trading at $323 when the markets closed Wednesday, opened on Thursday at $242.48 and never recovered, closing at $237.76. 24, 2021.Īlthough the pain was spread broadly across the tech sector Thursday, it was the travails of Facebook that captured much of the public’s attention. stock index was down significantly on Thursday, with the Dow Jones Industrial Average falling by 1.45%, the S&P 500 down 2.44%, and the tech-heavy Nasdaq down 3.74%.įILE - A girl looks at a Facebook page in New Delhi, Oct.
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tech stocks are facing a variety of major challenges right now, including a possible economic slowdown, changes to privacy rules, increased regulatory pressure and competitive challenges that have pushed users - especially young people - to new platforms such as TikTok.Įvery major U.S. Snap Inc., the owner of Snapchat Pinterest, Twitter, PayPal, Spotify and Amazon all suffered sharp sell-offs during trading. stock market back from the depths of the pandemic recession in 2021 led the market into a sharp plunge on Thursday after Meta Platforms, the company that owns Facebook, revealed that user growth on its marquee product has hit a plateau, and revenue from advertising has fallen off sharply. The same technology companies that helped drag the U.S.