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The 27% reduction in the company's share price which occurred in reaction to the news eliminated some $230 billion of value from Meta's market capitalization. [67] Bloomberg described the decline as "an epic rout that, in its sheer scale, is unlike anything Wall Street or Silicon Valley has ever seen". [67]
Ultimately underwriters settled on a price of $38 per share, at the top of its target range. [23] This price valued the company at $104 billion, the largest valuation to date for a newly public company. [24] On May 16, two days before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand. [25]
The company's share price was up 3.5% as of 12:30 p.m. ET. The semiconductor stock had been up as much as 5.5% earlier in the day. Yesterday, Intel launched its Xeon 6 central processing unit (CPU ...
t. e. Meta Platforms (formerly Facebook, Inc.) is a technology company that has acquired 91 other companies, including WhatsApp. The WhatsApp acquisition closed at a steep $16 billion; more than $40 per user of the platform. Meta also purchased the defunct company ConnectU in a court settlement and acquired intellectual property formerly held ...
Shares of Facebook owner Meta plummeted 26% on Thursday, the biggest single-day slide in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc's ...
They said Meta's stock price fell 53% in less than a year as the truth came out, wiping out well over $500 billion of the Menlo Park, California-based company's market value.
Andrew Bosworth. Andrew "Boz" Bosworth is an American business executive who has been chief technology officer at Meta since January 2022. After graduating from Harvard University in 2004, he worked as a developer on Microsoft Visio for almost two years, then joined Mark Zuckerberg at Facebook in January 2006, where he helped create News Feed.
Even if it spends the entire $60 billion allotment on share repurchases at today's share price, that will remove just under 138 million shares from the market, less than 1.9% of the shares ...