Beleaguered Facebook scrambles to escape stock’s death spiral as users flee, sales plummet

Beleaguered Facebook-parent Meta Platforms is trading at its lowest since early 2019, and the stock is one of the worst performers this year in the S&P 500. The company’s problems are mounting, notably including the multi-billion-dollar ad privacy hit from Apple’s App Tracking Transparency and the growing threat posed by TikTok.

Facebook CEO Mark Zuckerberg
Facebook CEO Mark Zuckerberg

Jonathan Vanian for CNBC:

A year ago, before Facebook had turned Meta, the social media company was sporting a market cap of $1 trillion, putting it in rarefied territory with a handful of U.S. technology giants.

Today the view looks much different. Meta has lost about two-thirds of its value since peaking in September 2021. The stock is trading at its lowest since January 2019 and is about to close out its third straight quarter of double-digit percentage losses.

Users are jumping ship and advertisers are reducing their spending, leaving Meta poised to report its second straight drop in quarterly revenue. Businesses are removing Facebook’s once-ubiquitous social login button from their websites. Recruiting is an emerging challenge… “I’m not sure there’s a core business that works anymore at Facebook,” said Laura Martin of Needham…

Zuckerberg has at least one major reason for concern beyond just stalled user growth and a slowing economy: Apple.

The 2021 iOS privacy update, called App Tracking Transparency, undermined Facebook’s ability to target users with ads, costing the company an estimated $10 billion in revenue this year…

Chris Curtis, an online marketing expert and consultant, has seen social networks rise and fall as trends change and users move along… “I’m old enough and I was there when MySpace was a thing,” said Curtis, who previously worked at Anheuser-Busch and McKinsey… When you look at Meta’s user numbers, Curtis said, they suggest the company is “not in a good position.”

MacDailyNews Take: Good.

We love it when people seem to be getting a clue.

Facebook is to privacy as Chernobyl is to nuclear power.MacDailyNews, February 3, 2021

If you trust Mark Zuckerberg to be the keeper of your photos, contacts, political views, religious beliefs, etc., you’re batshit insane. — MacDailyNews, May 23, 2018

Zuckerberg: Yeah so if you ever need info about anyone at Harvard
Zuckerberg: Just ask
Zuckerberg: I have over 4,000 emails, pictures, addresses, SSNs
Zuckerberg: People just submitted it.
Zuckerberg: I don’t know why.
Zuckerberg: They “trust me”
Zuckerberg: Dumb fucks

(Instant messages sent by Mark Zuckerberg during Facebook’s early days, reported by Business Insider in May 2010.)

We use FaceBook as an RSS feed. Our CMS automatically reposts our article headlines and links them back to our website. That is our only interaction with Facebook and has been our only interaction with Facebook for years. We deleted our personal accounts [which we opened only so we could understand the Facebook phenomenon] many years ago.

If you want to share photos and videos with friends, text them using Apple’s end-to-end encrypted iMessage service. You need to control your social networking, not cede it to a gatekeeper like Facebook. – MacDailyNews, March 19, 2018

As we’ve said many times: Delete Facebook.

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  1. Hopefully the Zuckertrash sold some of the stock a while back. Couldn’t happen to a better company and Zuckerberg single-handedly created the social media society we live in today, which is not better for the planet.

  2. When you lend Zuckerbucks to scumbag Democratic run cities and states, use your platform to prevent true stories from spreading far and wide and censor other’s points of view that are legitimate, all in order to steal an election, prepare for what’s to come because…

    Karma’s a Bitch!

    1. Not whining today about ad hominem attacks you don’t have the spine to respond to?

      Oh right, other than sanctimoniously cry for censorship of WORDS you do not like.

      No relief, now moving on to suck up…

  3. It’s not all because of Apple and privacy issues. FaceBook and Instagram intentionally alienate users through their obvious political bias and censorship practices. That’s why many user leave and never come back. Revenue comes primarily from ads, and that revenue goes down when there are fewer and fewer eyeballs on the platform (and there is less user diversity). What investor wants to put money into Meta when the company is less successful and profitable by design? It’s clear to investors that Meta does not care about its shareholders.

  4. Because I had personal insight into Fuckerberg I never signed-on.
    Glad to finally see people looking up and realizing the world doesn’t need to know 99% of the trash they’ve been posting.

    Facebook does a Faceplant — and hope it stays there.

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