Facebook's parent company Meta drops down from the list of top 10 most valuable companies globally

Facebook, originally known as Meta, was one of the most leading companies for a long time. But this year turns out to be alarming for the social media giant as the stock drop down and Meta is no longer included in the valuable companies.

According to Meta’s own reports, the user activity on Facebook fell for the first time ever in history. Two weeks back, it was reported that Meta face loss of 40% till date due to less user activity.

Facebook is considered as a house of billions of users but in the second half of 2021, nearly one million users deleted their Facebook account. On February 3rd, Meta shares dropped 26.4 percent in a single day, clearing away $240 billion in global worth. It was the greatest single-day loss in business record in the United States. Mark Zuckerberg's personal wealth has also dropped significantly: he is now valued at $78.8 billion, dropping more than $46 billion since the start of the year.

Ever since, Meta's stock has continued to fall, shedding additional 13% to present. As a result, the corporation has plummeted down the rankings of the world’s most precious firms based on market capitalization.

According to Bloomberg, Meta dropped down to 11th rank as the most valuable platform with a net worth of $565.4 billion. Previously, Meta was on sixth rank as per Bloomberg predicted on Meta’s all-time high stock market. It was recorded on 7th September 2021.

First rank was occupied by Apple with a net worth of $2.8 trillion while in second position, it was Microsoft with the capitalization of $2.2 trillion according to the rankings. Meta is currently ranked at eleventh position, following Chinese tech powerhouse Tencent and chip giant Taiwan Semiconductor Manufacturing Company (TSMC).

Aramco, Alphabet, and Amazon were on 3rd, 4th, and 5th rank respectively. Followed by these corporations are Tesla with the evaluation of $905.7 billion. Facebook has been generating the most revenue since the beginning but now tables have turned. Its not a good time for Meta as it has been facing severe downfall. The corporation should definitely look into this matter and work as soon as possible to up the game of capital market once again. Its uncertain why the number of users are declining on the platform but whatever the reason is, it is severely affecting the capitalization.

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