But the Meta executive, who announced Wednesday she will be stepping down from her long-time position this fall, has also been aggressively unloading her stake in the company since it went public in 2012. Forbes calculates that Sandberg has parted with 92% of the shares she owned as of March 2013–shortly after Facebook’s May 2012 initial public offering. Altogether that’s more than $2 billion worth of stock. And she sold a whole lot of it in the years right after Facebook went public. Getty Images for AOL Sheryl Sandberg has been one of Facebook’s biggest cheerleaders for more than a decade. Since joining the social media platform as chief operating officer in 2008, she has played a crucial role in morphing Facebook into the tech powerhouse it is today. 5Worsening economic outlook is hitting social media stocks, with Meta slumpingGrowth in ad revenue for pure-play digital platforms will fall this yearFor some analysts, the…
In February of that year, Facebook filed for an initial public offering , which valued the company at $102.4 billion. Meta Platforms announced in November that it was postponing the ticker change to Forex news this year. Then, in mid-January, Roundhill said it was changing the ticker of its metaverse ETF to “METV.” That took effect at the end of January. Roundhill also didn’t give a reason for the change.
How Has Meta Platforms, Inc Meta’s Stock Performed In 2022?
Meta has been under increasing fire over the past year amid mounting criticism of Big Tech companies, as well as its own moderation policies and https://www.cnbc.com/money-in-motion/ falling user numbers. Meta’s share price has fallen sharply since last September, with the company losing roughly half of its value since then.
- As of March 31, 2022, Facebook’s monthly active users were 2.94 billion.
- The forecast for beginning of September 153.
- Price at the end 161, change for September 5.23%.
- The company is classified as a member of the communications services sector.
- Price at the end 126, change for August -5.26%.
On Aug. 19, 2021, the Federal Trade Commission filed a new antitrust lawsuit against Meta after its original one filed in December 2020 was thrown out in June 2021. In its revised lawsuit, the FTC alleges that Meta illegally sought to suppress competition by acquiring potential competitors, including messaging platform WhatsApp and photo-sharing https://dotbig.com/markets/stocks/FB/ app Instagram. The FTC is seeking to force Meta to unwind these acquisitions, and accuses Meta of using its dominance in social media to prevent third-party app developers from accessing its platform. Many users have since chosen to not be tracked, causing many advertisers to cut spending on advertising on social media platforms like Facebook.
Meta Platforms, Inc Meta Marketrank Forecast
Meta shares dropped by as much as 3 percent after news of Sandberg’s departure emerged, before rebounding slightly to end 2.58 percent down at the close of trading. Sandberg said that she hoped to shift her focus to philanthropy Facebook stock forecast but would remain on the company’s board of directors after leaving. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis.
You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. In spring 2021, Haugen contacted John Tye, the founder of legal nonprofit organization Whistleblower Aid. She asked him about obtaining legal protection and the best course of action for making public thousands of pages of internal Meta documents. Tye agreed to represent her and Haugen filed for legal whistleblower protection with the Securities and Exchange Commission . Haugen joined the company in June 2019 and served on the Civic Integrity team, which focused on the platform’s impact on global elections.