Kochi: With 288 crore daily users, decline in ad revenue, Apple and Google starting to protect user privacy – the share price of Facebook parent company Meta fell in the US market.
The share price has risen up to 347 dollars in April last year. As Apple and Google tightened their privacy policies, prices began to drop. In March this year, the price reached $233. Meta stock is now down at $136.
Protecting user privacy means less data is available for meta platforms including Facebook, WhatsApp and Instagram. Data tracking is now only possible if the user allows it. Advertising will also be available by data only.
In addition to this, there is a warning that an economic recession is coming in the western world. With that, all the companies started cutting costs and reducing advertising costs. Ads in meta are also reduced. The decrease in Meta’s revenue in 6 months of this year is 5 billion dollars. (Rs. 40000 crores). Nasdaq stock analysts believe the price will cross $200 this year.
Alex K. Babu MD, Hedge Equities
‘Metta is a company with no loans or liabilities whatsoever. You can continue as long as you like. You have to overcome the challenges that come in between. The fall of Meta stock has no impact on the Indian stock market or technology stocks.’