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Friday, February 4, 2022
Despite a Meta-drubbing, all might not be lost
The big fourth quarter earnings miss by Facebook’s re-christened parent company (FB) Meta-stasized on Wall Street (sorry, I just couldn’t resist) — dragging all the major indexes lower in an unmitigated bloodbath
The lackluster results gave the stock, and a broader market already on edge ahead of January’s payrolls data, a “shellacking,” as Yahoo Finance’s Dan Howley so aptly described in a report on Thursday. In fact, it was Meta’s worst-ever single day drop that wiped out around $250 billion in market value.
The Q4 letdown and the resulting washout has a lot to do with new Apple iPhone privacy changes, and is certain to amplify the…
