Facebook (META) loses 237.6 billion in value in one day, a market all time record.

[flacaltenn]

Time will tell if this is a one-off thing or a general re-evaluation of these social media companies and their limited business models.

Their INITIAL business models all sucked. They grazed on start-ups to hedge their income. But even with the lucrative VR headset product they have and all the 3rd party licensing to write games/apps for THAT -- those "initial flaws" of monetizing their BIGGEST products (you and me or the members/users) is still gonna drag them down.

Here's the weird chart from today.

 

[Turtlesoup]

Strange thing I saw when I looked up the Meta quote for today.. IT OPENED down right around 25% and STAYED FLAT.. Did they lock up trading? THe volume showed a huge spike at opening and nothing else the rest of the day.

Oh and the Meta future for tomorrow is +3.40 or something giggly.

SO -- how come what YOU just described didn't happen for a LONGER trading time today? The sellers in the 1st HOUR had buyers -- until they didn't an hour later. And NOBODY came back in ???

Is this the equivalent of a NASDAQ funeral or something? I want the "dead cat bounce" or I can't enjoy this.

More likely Zuckerberg is pulling strings trying to keep his company's stock up.

 

[Samofvt]

Planned correction. The big drop happened off-hours, not something mom and pop investors would have been savvy to, but they figured they could pocket that 200+ billion in profits. Blame it on news events. Still overvalued/overbought by a large amount at 200/share, but thanks to shady bookkeeping and government investment in its data, it'll still look attractive to mom and pop investors...until the next correction.

 

[sparky]

People just love political censorship, obviously.

Especially our Congresscritters.....

FB literally digitized book burnings for them.....

~S~

 

[Claudette]

Glad to hear it. FB decided they didn't want any right wing opinions only left wing.

Hope they go bankrupt. Why anyone belongs to these social sites is beyond me. I never have and never will.