Shares of Facebook parent Meta Platforms Inc. plunged more than 20% in extended trading Wednesday on an earnings miss, weak guidance and intensifying competition — dragging down the stocks of other social media giants.
With Meta’s shares in freefall, other social-media stocks were badly bruised. Snap Inc.’s SNAP, -4.72% shares were down 20% in after-hours trading Wednesday, while Twitter Inc. TWTR, -4.22% and Pinterest Inc. PINS, -8.93% were each down more than 10%. Snap is scheduled to announce its results on Thursday.
“We expect growth to be negatively impacted by a few factors… First, we will lap a period in which Apple’s iOS changes were not in effect and we anticipate modestly increasing ad targeting and measurement headwinds from platform and regulatory changes,” Meta said.
This is a crash that is going to happen this month.. media tell to truth advise your listeners massive bankruptcy will take place in the coming weeks
look like crap... time to go outside and enjoy some nature for real... tech is down again ...lol
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