As Meta shapes its antitrust defense, it has begun pointing out its plummeting stock price — down by more than 60% since the spring — as a sign that competition is alive and well in its market.
As Meta shapes its antitrust defense, it has begun pointing out its plummeting stock price as a sign that competition is alive and well in its market.Meta’s market value is down by more than 60% since the spring. It has lost ground to its surging rival TikTok, and its revenue has been curtailed by Apple's iOS privacy changes.
During a hearing Monday on the future of a lawsuit brought against Meta by a group of states, Aaron Panner, the attorney representing Facebook, noted the exploding popularity of TikTok and other social media platforms and said,imply that the company is simply no longer a colossus deserving so much government scrutiny and lawsuits over what regulators describe as its monopoly.
Apple, Microsoft, Amazon and Google are all currently in the top five companies globally by market cap. Meta sits around number 10. TikTok was once again the most downloaded app globally last quarter, a position it's held for 8 quarters in a row, per
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