Shares of Meta Platforms, Facebook’s parent, plummeted 42.39% from its last all-time high of $382.18 on September 7, 2021, to $220.18 when it was sold on Tuesday.
After two consecutive years of double-digit growth (33.09% in 2020 and 23.13% in 2021), Meta titles reached their all-time high, but now they are falling due to a bad quarterly report and new conflicts. From February 2 to date, its papers fall 31.83% and it has lost 279.970 million dollars in market value
Meta threatened to close Facebook and Instagram in the European Union if community regulations do not allow it to transfer data from its European users to the United States.
This was reported by the company in a report to the United States Security and Exchange Commission, in which it addressed the problems faced by its advertising business internationally.
In July 2020, a ruling by the Court of Justice of the European Union (CJEU) annulled the ‘Privacy Shield’ regulation, which until now had regulated the transfer of user data between countries.
With this, the Community General Data Protection Regulation (RGPD) came into force, in force since 2018 and which prohibits companies from processing the data of European citizens outside the European Union.
“If we are unable to transfer data between countries and regions in which we operate, or if we have restrictions on sharing data between our products and services, this could affect our ability to provide our services, the way we provide our services, or our ability to target ads,” Meta warned in the report.
The investor, Peter Thiel, will leave the board of Meta, after a long tenure that saw the growth of the largest social network and his express support for former President Donald Trump.
“He has served on our board for nearly two decades, and we have always known that, at some point, he would devote his time to other interests,” Mark Zuckerberg said. Thiel was the first investor of Facebook, with a participation that generated millions of dollars, he joined in 2005. He is a supporter of Donald Trump. (With information from Agencies)