|Bid||160.00 x 800|
|Ask||160.00 x 900|
|Day's range||155.00 - 160.62|
|52-week range||154.25 - 384.33|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||12.23|
|Earnings date||27 Jul 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||289.22|
Shares of Meta Platforms (NASDAQ: META) dipped 16.7% in June, according to data from S&P Global Market Intelligence. The social media conglomerate that owns Facebook, Instagram, and WhatsApp is slowing down hiring this year and was probably affected by the broad market sell-off in technology stocks last month. There was no official news from Meta Platforms this month, but, being one of the most valuable companies in the world, there was plenty of other news to dig into.
Things are going from bad to worse for Meta Platforms (NASDAQ: META). The Facebook parent is coming off the slowest growth in its history, with revenue up just 7% in the first quarter, and the company said that growth will be even slower in the second quarter. Meta is facing a swirl of challenges, including Apple's crackdown on ad targeting, the rise of TikTok, tightening privacy laws in Europe, headwinds in digital advertising, and a questionable rebrand to prioritize its metaverse business, Reality Labs, which is currently a giant money pit.
Shares of Pinterest (NYSE: PINS) were under pressure this week along with the rest of the market to end the worst first half of a year for stocks in over 50 years. For the sake of keeping score, the social media stock was down 13% on the week, the S&P 500 was down 2.2%, and the Nasdaq Composite was down 3.6%. During the first half of 2022, Pinterest has lost 50% of its value.