The Clap Meta’s (NASDAQ: META) stock closed at $146.29, just 28 cents above its price range during March 2020 (early pandemic period).
The Deets Meta has faced several obstacles this year which saw the company lose 61% of its value YoY.
In addition, faltering economic conditions continue to push companies to cut expenditures, with companies reducing their online marketing spending for the year.
Why this Matters Meta’s decline over the past 12 months is the biggest among the large tech firms.
What this Shows The economic situation as well as the growing popularity of other social networking sites have shaken Meta, significantly affecting the stock price even though the company managed to expand its active users by under 1%.