Can Meta Platforms Recover in 2023?
While some companies have seen their stocks crater by a massive percentage, few have seen the pure market capitalization destruction as Meta Platforms (NASDAQ: META). The company was worth more than $1 trillion back in September 2021 but is now worth around $320 billion.
When essentially $700 billion in value is wiped out, that's an incredible fall. For reference, there are only five companies in the world that are worth more than $700 billion currently. So that means Meta Platforms has lost what nearly every company that has ever existed failed to gain.
But this tremendous fall may have set Meta's stock up for success, as it is cheaply valued. Could 2023 be Meta's comeback year? Or has the sun set on this former market leader?
Source Fool.com
