The phase of Meta, owner of Facebook, is still bad. According to CNBC, the company has already lost 35% in share value in 2022, in a performance that has seen its market cap drop to just under $600 billion — a number that is still quite high, but in fact. reflects the company’s performance.
The performance makes the company eighth in the ranking of the most valuable in the US, being momentarily surpassed by Nvidia.
Meta’s financial problems began with the release of the latest financial report, which included the first drop in daily active users in Facebook’s history. Mark Zuckerberg, CEO and co-founder, and Eduardo Saverin, co-founder and hitherto the richest Brazilian in the world, suffered a blow to their fortunes as a result.
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The report, however, shows that this drop could have an unexpected and positive consequence for Meta, if it fails to recover its previous market value. At the time of publication of this report, the shares had a slight increase in relation to the previous days.
The US Congress is targeting Big Tech with a market value of $600 billion or more — the case of rivals such as Amazon, Alphabet (Google), Apple and Microsoft. In this way, the company would end up escaping monopoly investigations, which can result in both heavy fines and the obligation to fragment services. Currently, the company is one of the main candidates to be sanctioned by the US Legislature.
A law under discussion in the US Senate, which will strengthen investigations into anti-competitive market practices, targets companies below US$ 550 billion.