Facebook parent Meta loses $200B in value as users abandon site

Facebook and Instagram owner Meta saw $200 billion of its market value vanish into thin air late Wednesday and early Thursday, showing that slowing user growth is more dangerous to Mark Zuckerberg’s social media colossus than any whistleblower. 

Meta shares were changing hands at $248.00 in pre-market trading early Thursday — about 23% lower than Wednesday’s closing price of $323.00.

The corresponding $200 billion hole in Meta’s market value amounts to the largest one-day wipeout of a single company’s value in history.