On Thursday, February 17, EST, Meta Platform, a meta-universe company, once again ushered in a "milestone" day.
U.S. stocks closed down nearly 4.1 percent on Thursday, shrinking to $565.375 billion. Meta "outperformed" the NASDAQ Composite index's cumulative decline of about 13% over the same period with a year-to-date decline of more than 40%.
Meta, which set a record for the highest one-day evaporation of U.S. stocks, has now fallen from its former top five most valuable U.S. companies, such as Apple, Microsoft, Amazon and Google, to close in thursday at $565.375 billion in market capitalization. It's as if Bob, who has always been at the top of the list, suddenly falls out of the top ten of the class, and the reality is always so cruel.
Once valued at more than $1 trillion, Meta ranks 11th after Tencent Holdings Limited. Since Zuckerberg tried to shift the company's focus to metacosmites last year, Meta has experienced a stock price slump of ups and downs, evaporating more than $500 billion since its share price peak last September.
The market was reshuffled, and Tesla replaced Meta as the sixth-largest company by market capitalization with a market capitalization of $906 billion, after e-commerce giant Amazon. Buffett's Berkshire Hathaway is followed by NVIDIA with a market capitalization of $700 billion, followed by NVIDIA with a market capitalization of $613 billion.
Founder Zuckerberg's wealth also shrank, and he was also squeezed out of the world's top ten billionaire list after the earnings report. Referring to the Bloomberg Rich Index, zuckerberg ranked thirteen as of Thursday's EST data.
When Facebook officially changed its name to Meta, Zuckerberg "bet" on a future. As for the present, to paraphrase a "passed" buzzword, do it and cherish it.