$520 billion wiped off Meta's market value in a year

Facebook's parent Meta's valuation collapsed by $520 billion in the past year, Bloomberg said on Thursday. Meta's shares continued to plummet after the company announced its Q3 results on Wednesday, wiping off $67 billion from its market value within hours. Meta, which was looking at a $1 trillion valuation at the start of this year, is now worth $283 billion.