Facebook
‘s parent company is definitely one of the most unfriended on Wall Street right now.
Meta Platforms
(ticker: FB), which owns Facebook, Instagram, and WhatsApp, is seeing its stock go into freefall. The shares were more than 22% in lower in premarket trading Thursday. If the shares finish more than 18.96% lower in regular trading in the day ahead, it will be the worst one-day plunge for the stock in the company’s history.
To blame are the company’s latest quarterly financial results.
While sales came in ahead of estimates, earnings were weaker than expected and the group’s guidance was truly dismal: Revenue is expected to come in between $27 billion and $29 billion in the current quarter. Representing comparatively anemic annual growth of 3%…
