A social network that can’t keep expanding its user base is potentially in an existential crisis, as sites like MySpace and Orkut learned when Zuckerberg’s brainchild made it big. Given that, investors are treating it much differently than the other so-called FAANG stocks, Apple, Amazon.com, Netflix and Google owner Alphabet.
Investors have long looked at Facebook’s owner as part of a cohort of dominant technology companies that stood apart from the rest of the universe. After last week’s disastrous earnings report, Meta Platforms is struggling to keep up with those other Silicon Valley giants.
The Mark Zuckerberg-run company has seen more than US$300 billion in market value wiped out in 2022 alone. Facebook’s user growth has stalled in the face of competition from viral video-sharing app TikTok at a time when the company also is spending billions to try to expand in immersive digital experiences.
