Why Meta Platforms Stock Dropped Hard This Week
Meta Platforms (NASDAQ: META) shares fell hard this week, declining 25% through Thursday trading even as the wider market rose 1.5%. That drop contributed to significant losses for the social media giant, whose shares are down 71% so far in 2022, according to data provided by S&P Global Market Intelligence.
The latest decline was sparked by the company's Wednesday afternoon earnings report, which contained lots of warning signs about Meta's growth rate into 2023.
The company this week revealed modest increases in its user base and higher advertising impressions through the three-month selling period that ended in late September. The base of engaged users grew 4%, roughly the same rate as in the prior quarter.
Source Fool.com
