Why $200 billion was wiped off Meta’s market valuation overnight
Social media and technology outfit Meta Platforms (META:NASDAQ) saw its recent share price momentum stall in a big way overnight as investors fretted its 'year of efficiency' in 2023 would give way to a period or profligacy.
At one point more than $200 billion had been wiped off the company's valuation as the shares fell 19% in after-hours trading.
The trigger was the company's first-quarter u...