Social-media giant Meta Platforms (META) is going through a very tough time.
· The parent of Facebook, Instagram and WhatsApp is being mocked and is watching the bond of trust with investors crumble day by day.
· Meta shares are down 62.3% since January,
Reflected in a fall in market value of nearly $570 billion.
· Blame it on formidable rival TikTok for taking market share in ad revenue and on Apple (AAPL) for limiting Meta's ability to send targeted ads to iPhone owners using its apps.
· Zuck and Meta are therefore up against the wall to find growth drivers and appease investors' loss of patience.
· Meta which is present in more than 180 countries and has more than 2 billion users.
The metaverse, which CEO Mark Zuckerberg has touted as the next big thing, has so far only suffered colossal losses.
Zuck and Meta are therefore up against the wall to find growth drivers and appease investors' loss of patience.